Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Coooperative's financial statements. Such expenditures are recognized following the cost principales contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: A small portion of a few employees time in the Control Center / Dispatch Group is allocated to FEMA workorders.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Cooperative under programs of the federal government for the year ended December 31, 2024. Expenditures reported on the Schedule are reported on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expended is presented in accordance with the requirements of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used, in the preparation of the financial statements.
Because the Schedule presents only a selected portion of the operations of the Cooperative, it is not intended to, and does not present the balance sheet, statements of revenue, changes in members’ equity or cash flows of the Cooperative.
Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Coooperative's financial statements. Such expenditures are recognized following the cost principales contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: A small portion of a few employees time in the Control Center / Dispatch Group is allocated to FEMA workorders.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Cooperative’s financial statements. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the Coooperative's financial statements. Such expenditures are recognized following the cost principales contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursements. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: A small portion of a few employees time in the Control Center / Dispatch Group is allocated to FEMA workorders.
The Cooperative has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.