Title: Basis of presentation
Accounting Policies: Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2023.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Federal financial assistance
Accounting Policies: Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2023.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Title: Reporting entity
Accounting Policies: Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2023.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2023
Title: Revenue and expense recognition
Accounting Policies: Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2023.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.
De Minimis Rate Used: N
Rate Explanation: Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 225, Cost Principles for State, Local and Indian Tribal
Governments (OMB Circular A-87), wherein certain type of expenditures are not allowed or are limited as
to reimbursements. Pass-through entity identifying numbers are presented where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.