Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Peace River Electric Cooperative, Inc. (the Cooperative) under programs of the federal government for the fiscal year ended December 31, 2023. The information in the SEFA is presented 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). Expenditures reported on the SEFA 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Peace River Electric Cooperative, Inc. (the Cooperative) under programs of the federal government for the fiscal year ended December 31, 2023. The information in the SEFA is presented 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).
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Peace River Electric Cooperative, Inc. (the Cooperative) under programs of the federal government for the fiscal year ended December 31, 2023. The information in the SEFA is presented 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). Expenditures reported on the SEFA 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the SEFA 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 allowed or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Peace River Electric Cooperative, Inc. (the Cooperative) under programs of the federal government for the fiscal year ended December 31, 2023. The information in the SEFA is presented 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). Expenditures reported on the SEFA 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The Cooperative has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Title: Contingencies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Peace River Electric Cooperative, Inc. (the Cooperative) under programs of the federal government for the fiscal year ended December 31, 2023. The information in the SEFA is presented 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). Expenditures reported on the SEFA 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Grant revenues received and disbursed by the Cooperative are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to the disallowance of expenditures. The Cooperative does not believe that such disallowances, if any, would have a material effect on the financial position of the Cooperative.
Title: Disaster Grants – Public Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the Peace River Electric Cooperative, Inc. (the Cooperative) under programs of the federal government for the fiscal year ended December 31, 2023. The information in the SEFA is presented 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). Expenditures reported on the SEFA 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
During the fiscal year ended December 31, 2023, the Federal Emergency Management Agency obligated $12,072,734 of eligible expenditures related to the Cooperative’s disaster recovery projects that have been incurred. $11,779,100 of the expenditures included on the SEFA were expended in the prior fiscal year.