Title: Note 1 - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Bledsoe Telephone Cooperative, Inc. and Subsidiary (the Cooperative) under programs of the federal
government for the year ended December 31, 2024. Expenditures reported on the schedule are reported
on the accrual basis of accounting. The information in this schedule is presented in accordance with
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). Therefore, some of the
amounts presented in this schedule may differ from the amounts presented in, or used in the preparation
of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Bledsoe Telephone Cooperative, Inc. and Subsidiary (the Cooperative) under programs of the federal
government for the year ended December 31, 2024. Expenditures reported on the schedule are reported
on the accrual basis of accounting. The information in this schedule is presented in accordance with
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). Therefore, some of the
amounts presented in this schedule may differ from the amounts presented in, or used in the preparation
of, the financial statements.
Title: Note 2 - Reporting Entity
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Bledsoe Telephone Cooperative, Inc. and Subsidiary (the Cooperative) under programs of the federal
government for the year ended December 31, 2024. Expenditures reported on the schedule are reported
on the accrual basis of accounting. The information in this schedule is presented in accordance with
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). Therefore, some of the
amounts presented in this schedule may differ from the amounts presented in, or used in the preparation
of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
The Cooperative’s reporting entity is fully described in Note 1 to the financial statements.
Title: Note 3 - Continuing Compliance Requirements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Bledsoe Telephone Cooperative, Inc. and Subsidiary (the Cooperative) under programs of the federal
government for the year ended December 31, 2024. Expenditures reported on the schedule are reported
on the accrual basis of accounting. The information in this schedule is presented in accordance with
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). Therefore, some of the
amounts presented in this schedule may differ from the amounts presented in, or used in the preparation
of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
The Cooperative has unpaid RUS loans with continuing compliance requirements in the amount of
$3,894,686 at December 31, 2024.
Title: Note 4 - Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Bledsoe Telephone Cooperative, Inc. and Subsidiary (the Cooperative) under programs of the federal
government for the year ended December 31, 2024. Expenditures reported on the schedule are reported
on the accrual basis of accounting. The information in this schedule is presented in accordance with
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). Therefore, some of the
amounts presented in this schedule may differ from the amounts presented in, or used in the preparation
of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
Title: Note 5 - Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Bledsoe Telephone Cooperative, Inc. and Subsidiary (the Cooperative) under programs of the federal
government for the year ended December 31, 2024. Expenditures reported on the schedule are reported
on the accrual basis of accounting. The information in this schedule is presented in accordance with
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). Therefore, some of the
amounts presented in this schedule may differ from the amounts presented in, or used in the preparation
of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimis indirect cost rate allowed under Uniform
Guidance.
There were no awards passed through to subrecipients.