Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Spent and 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: For this type of program, the entity is able to claim a 5% Category Z administrative cost reimbursement but not the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity
of South Louisiana Electric Cooperative Association (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: Spent and 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: For this type of program, the entity is able to claim a 5% Category Z administrative cost reimbursement but not the de minimis cost rate.
Spent and 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: Spent and 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: For this type of program, the entity is able to claim a 5% Category Z administrative cost reimbursement but not the de minimis cost rate.
The Cooperative has elected not to use either the 15% or the 10% de minimis cost rate allowed under
Uniform Guidance.
Title: NOTE D – TOTAL FEMA FUNDS RECEIVED
Accounting Policies: Spent and 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: For this type of program, the entity is able to claim a 5% Category Z administrative cost reimbursement but not the de minimis cost rate.
The Cooperative received a total of $6,132,217 from FEMA during the year ended December 31, 2024.