Title: Note 1-Purpose of the Schedule
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2024.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance), wherein certain type of expenditures are not
allowed or are limited as to reimbursements. Pass-through entity identifying numbers are presented
where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.
De Minimis Rate Used: N
Rate Explanation: They did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) is a supplementary
schedule to the financial statements of Douglas Electric Cooperative, Inc., and Subsidiary (the
Cooperative) and is presented for purposes of additional analysis. Because the Schedule presents only a
selected portion of the activities of the Cooperative, it is not intended to, and does not present either the
financial position, statement of cash flows, changes in net position, or operating revenues and expenses
of the Cooperative.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2024.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance), wherein certain type of expenditures are not
allowed or are limited as to reimbursements. Pass-through entity identifying numbers are presented
where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.
De Minimis Rate Used: N
Rate Explanation: They did not use the de minimis cost rate.
Basis of presentation – The information in the Schedule is presented in accordance with requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Federal financial assistance – Pursuant to the Uniform Guidance, federal financial assistance is defined
as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,
cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct
appropriations. Nonmonetary assistance is included in the Schedule, if applicable. Federal financial
assistance does not include direct federal cash assistance to individuals or solicited contracts between
the state and federal government through which the federal government procures tangible goods or
services.
Reporting entity – The reporting entity is fully described in Note 1 of the financial statements
(incorporated by reference only). Additionally, the Schedule includes all federal programs administered by
the Cooperative for the year ended December 31, 2024.
Revenue and expense recognition – As in the financial statements, the accompanying Schedule is
prepared based on the accrual basis of accounting. Expenditures are recognized following the cost
principles contained in Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance), wherein certain type of expenditures are not
allowed or are limited as to reimbursements. Pass-through entity identifying numbers are presented
where applicable.
The Cooperative does not utilize the 10 percent de minimis rate.