Audit 17836

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) has been prepared from Electric Power Research Institute Inc.s, (the Institute or EPRI) accounting records and is presented on the accrual basis of accounting in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The purpose of the Schedule is to present a summary of those activities of EPRI for the year ended December 31, 2022 which have been partially financed by the U.S. government (federal awards). For purposes of the Schedule, federal awards include all assistance entered into directly between EPRI and the federal government and between EPRI and other primary recipients of federal government funding (pass-through). Amounts Passed-Through to Subrecipients are included in Total Federal Expenditures. In addition to Total Federal Expenditures, EPRI reported $5,932,853 in cost share spending on these federal awards during the year ended December 31, 2022. Because the Schedule presents only a selected portion of the activities of the Institute, it is not intended to, and does not, present either the consolidated financial position, changes in net assets, or cash flows of the Institute. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.