Notes to SEFA
Title: Note 1-Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following 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: Washington-St. Tammany Electric Cooperative, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Washington-St. Tammany Electric Cooperative, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this Schedule 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). Because the Schedule presents only a selected portion of the operations of Washington-St. Tammany Electric Cooperative, Inc., it is not intended to and does not present the financial position, net margins, or cash flows of Washington-St. Tammany Electric Cooperative, Inc.
Title: Note 4-Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following 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: Washington-St. Tammany Electric Cooperative, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Washington-St. Tammany Electric Cooperative, Inc. did not pass-through any of its federal awards to a subrecipient during the year ended December 31, 2023.
Title: Note 5-Non-Cash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following 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: Washington-St. Tammany Electric Cooperative, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
No federal awards were expended in the form of non-cash assistance during the year ended December 31, 2023.
Title: Note 6-Prior Year Expenditures Included in the Schedule
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following 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: Washington-St. Tammany Electric Cooperative, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule includes expenses incurred during the year ended December 31, 2021 of $12,764,320 but obligated by the Department of Homeland Security during 2023.