FAC Explorer

Audit 348732

FY End
2022-12-31
Total Expended
$2.39M
Findings
4
Programs
1
Organization: Deep East Texas Electric Coop (TX)
Year: 2022 Accepted: 2025-03-26
Auditor: Axley & Rode LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
537517 2022-001 - - L
537518 2022-001 - - L
1113959 2022-001 - - L
1113960 2022-001 - - L

Programs

ALN Program Spent Major Findings
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $651,837 Yes 1

Contacts

Name Title Type
YLCDB2BMS8F1 Bryan Wood Auditee
9362294000 Molly Abele Auditor
No contacts on file

Notes to SEFA

Title: NotesToSefa Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Deep East Texas Electric Cooperative, Inc. under programs of the federal government for the year ended December 31, 2022. 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 Deep East Texas Electric Cooperative, Inc., it is not intended to and does not present the financial position, changes in equity, or cash flows of Deep East Texas Electric Cooperative, Inc. Summary of Significant Accounting Policies Expenditures reported on the SEFA are reported on the accrual basis of accounting. These expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Indirect Cost Rate The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Indirect Cost Rate The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Deep East Texas Electric Cooperative, Inc. under programs of the federal government for the year ended December 31, 2022. 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 Deep East Texas Electric Cooperative, Inc., it is not intended to and does not present the financial position, changes in equity, or cash flows of Deep East Texas Electric Cooperative, Inc. Summary of Significant Accounting Policies Expenditures reported on the SEFA are reported on the accrual basis of accounting. These expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Indirect Cost Rate The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2022-001
Finding 2022-01 Criteria: Section 200.512 of the Uniform Guidance states the audit must be completed and the data collection form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Condition: The Cooperative has not completed the audit or submitted the required information within the time frame required by the Uniform Guidance regulations. Effect: The Cooperative is not in compliance with the regulations. Recommendations: We suggest the Cooperative have audits prepared and information transmitted timely in accordance with Uniform Guidance regulations. Contact Person: Kelly Hays, Accounting Supervisor
Finding 2022-001
Finding 2022-01 Criteria: Section 200.512 of the Uniform Guidance states the audit must be completed and the data collection form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Condition: The Cooperative has not completed the audit or submitted the required information within the time frame required by the Uniform Guidance regulations. Effect: The Cooperative is not in compliance with the regulations. Recommendations: We suggest the Cooperative have audits prepared and information transmitted timely in accordance with Uniform Guidance regulations. Contact Person: Kelly Hays, Accounting Supervisor
Finding 2022-001
Finding 2022-01 Criteria: Section 200.512 of the Uniform Guidance states the audit must be completed and the data collection form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Condition: The Cooperative has not completed the audit or submitted the required information within the time frame required by the Uniform Guidance regulations. Effect: The Cooperative is not in compliance with the regulations. Recommendations: We suggest the Cooperative have audits prepared and information transmitted timely in accordance with Uniform Guidance regulations. Contact Person: Kelly Hays, Accounting Supervisor
Finding 2022-001
Finding 2022-01 Criteria: Section 200.512 of the Uniform Guidance states the audit must be completed and the data collection form and reporting package must be submitted within the earlier of 30 calendar days after receipt of the auditor's report or nine months after the end of the audit period. Condition: The Cooperative has not completed the audit or submitted the required information within the time frame required by the Uniform Guidance regulations. Effect: The Cooperative is not in compliance with the regulations. Recommendations: We suggest the Cooperative have audits prepared and information transmitted timely in accordance with Uniform Guidance regulations. Contact Person: Kelly Hays, Accounting Supervisor