Notes to SEFA
Title: (1) Basis of Presentation
Accounting Policies: (2) Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported using the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited asto reimbursement.Indirect costs may be included in the reported expenditures, to the extent that they are includedin the federal financial reports used as the source for the data presented. Ce1tain of theDistrict's federal award programs have been charged with indirect costs, based upon a rateestablished by New York State. The District has elected not to use the 10% de minimis indirectcost rate allowed under the Uniform Guidance applied to overall expenditures.Matching costs (the Districts share of certain program costs) are not included in the reportedexpenditures. The basis of accounting varies by federal program consistent with theunderlying regulations pertaining to each program.The amounts reported as federal expenditures were obtained from the federal financial reportsfor the applicable program and periods. The amounts reported in these reports are preparedfrom records maintained for each program, which are reconciled with the Districts financialreporting system.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of federal award programs administered by the District, which is described in note 1 to the Districts accompanying financial statements, for the year ended June 30, 2022. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.