Notes to SEFA
Title: Note 1 Basis of Presentation
Accounting Policies: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the modified accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3: 10% DE MINIMIS INDIRECT COST RATE The BOCES did not utilize the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards, (the Schedule), includes thefederal award activity of the Centennial Board of Cooperative Educational Services, (the BOCES)under the programs of the federal government for the year ended June 30, 2022. The informationin this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the BOCES, it Is not intended to and does not present thefinancial position, changes in net position, or cash flows of the BOCES.
Title: Note 4 Subrecipients
Accounting Policies: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the modified accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 3: 10% DE MINIMIS INDIRECT COST RATE The BOCES did not utilize the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
There were no subrecipients that received funding from the BOCES for the fiscal year.