Audit 319701

Title: BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Cooperative and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance”), as revised. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The Cooperative has not elected to use the 10-percent de minis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Cooperative and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance”), as revised. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.

Title: INDIRECT COST RATE Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Cooperative and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance”), as revised. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The Cooperative has not elected to use the 10-percent de minis indirect cost rate allowed under the Uniform Guidance. The Cooperative has not elected to use the 10-percent de minis indirect cost rate allowed under the Uniform Guidance.