Notes to SEFA
Title: NOTE 1 — Basis of Presentation
Accounting Policies: NOTE 2 — Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Yakama Power has not elected to use the 10% de minimis indirect cost rate. The Company utilizes the cost rate
required by the grant funders (when applicable).
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of
Yakama Power under programs of the federal government for the year ended September 30, 2023. The information in
this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule
presents only a selected portion of the operations of Yakama Power, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of Yakama Power.
Title: NOTE 4 – Federal Loans and Loan Guarantees
Accounting Policies: NOTE 2 — Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Yakama Power has not elected to use the 10% de minimis indirect cost rate. The Company utilizes the cost rate
required by the grant funders (when applicable).
The US Department of Agriculture, Rural Utility Services awarded Yakama Power a loan guarantee for a maximum
amount of $30,782,000. As of September 30, 2023, $27,933,294 was outstanding related to the infrastructure
acquisition. During the year ended September 30, 2020 Yakama Power also borrowed $1 million from the US
Department of Agriculture for COVID relief funding, $962,992 of which was outstanding at September 30, 2023.