Notes to SEFA
Title: Disaster Grants - Public Assistance
(Presidentially Declared Disasters)
Accounting Policies: The accompanying Schedule of Federal Awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: SECO has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The Cooperative has a total remaining FEMA receivable balance of
approximately $9.3 million and $7.3 million for the years ended December 31, 2023 and 2022.
Management believes that this estimate is reasonable and ultimately recoverable from FEMA.
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Federal Awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: SECO has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Federal Awards is presented on the accrual basis of accounting. The information in this schedule is presented
in accordance with the requirements of the Uniform Guidance.
Title: Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Federal Awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: SECO has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
SECO has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance