Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Okanogan County Electric Cooperative, Inc and Subsidiaries 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Okanogan County Electric Cooperative, Inc and Subsidiaries 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Federal De Minimis Indirect Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Okanogan County Electric Cooperative, Inc and Subsidiaries 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Cooperative has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Program Costs and Matching Contributions
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Okanogan County Electric Cooperative, Inc and Subsidiaries 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of program costs.
Entire program costs, including the Cooperative’s local matching share, may be more than shown. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.