Audit 353135

Title: Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Beauregard Electric Cooperative, Inc. and is presented on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: The Organization has elected not to used the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal grant activity of Beauregard Electric Cooperative, Inc., and is presented on the accrual basis of accounting. The information on this schedule is presented in accordance with the requirements contained by Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Certain costs have been allocated to the federal program in accordance with OMB Circular A-122, Cost Principles of Non-Profit Organizations. The amounts presented in this schedule do not differ from the amounts presented in, or used in the preparation of the financial statements.