Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Program allows for 5% of total claim for Category Z management cost.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Dixie Electric Membership Corporation (the Cooperative) and is presented on the accrual basis of accounting. 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 SEFA presents only a selected portion of the operations of the Cooperative, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Cooperative.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Program allows for 5% of total claim for Category Z management cost.
Expenditures reported on the schedule are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Title: NOTE C – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Program allows for 5% of total claim for Category Z management cost.
The Cooperative has elected not to use either the 15% or the 10% de minimis cost rate allowed under
Uniform Guidance.
Title: NOTE D – AMOUNTS INCLUDED IN THE SEFA
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Program allows for 5% of total claim for Category Z management cost.
The Cooperative includes Expenditures of Federal Awards from Category Z costs (Management Costs). Eligible costs up to 5% of total expenditures are able to be claimed and cover costs of management of projects such as consulting and auditing services. For the year ended December 31, 2024, the Cooperative included obligated funds for Category Z costs in the SEFA totaling $2,648,768.
Title: NOTE E – TOTAL FEMA FUNDS RECEIVED
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Program allows for 5% of total claim for Category Z management cost.
The Cooperative received a total of $15,628,798 from FEMA during the year ended December 31, 2024.
$15,074,608 was received for Hurricane Ida, $160,065 was received for Winter Storm Uri, and $394,125
was received for Hurricane Delta.