Notes to SEFA
Title: Note 1
Accounting Policies: The Schedule of Expenditures of Federal Awards summarizes the expenditures of Upper Cumberland Electric Membership Corporation under programs of the federal government for the year ended June 30, 2024. The schedule is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Upper Cumberland Electric Membership Corporation did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards summarizes the expenditures of Upper Cumberland Electric Membership Corporation under programs of the federal government for the year ended June 30, 2024. The schedule is presented using the accrual basis of accounting.
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards summarizes the expenditures of Upper Cumberland Electric Membership Corporation under programs of the federal government for the year ended June 30, 2024. The schedule is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Upper Cumberland Electric Membership Corporation did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Indirect Cost Rate: Upper Cumberland Electric Membership Corporation did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.