The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Habersham Electric Membership Corporation and Subsidiary and Subsidiary (the Corporation) for the year ended April 30, 2025. The information in the 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 Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in equities or cash flows of the Corporation.
The President declared a major disaster for the State of Georgia (FEMA-DR-4830-GA) on September 30, 2024, as a result of Hurricane Helene, pursuant to his authority under the Stafford Act. This declaration authorized the Federal Emergency Management Agency to provide, through its Public Assistance Program, reimbursement or direct Federal assistance to eligible state, local, tribal, and certain private-nonprofit organization applicants for emergency work Categories A and B, and the repair or replacement of disaster-damaged facilities under Public Assistance Categories C, D, E, F, and G including Direct Federal Assistance for Atkinson, Baker, Banks, Ben Hill, Berrien, Brooks, Calhoun, Cherokee, Clay, Clinch, Coffee, Colquitt, Cook, Crisp, Dawson, Decatur, Dooly, Dougherty, Early, Echols, Fannin, Forsyth, Franklin, Gilmer, Grady, Habersham, Hall, Irwin, Jackson, Lanier, Lee, Lowndes, Lumpkin, Macon, Miller, Mitchell, Pickens, Pulaski, Quitman, Rabun, Randolph, Schley, Seminole, Stephens, Stewart, Sumter, Terrell, Thomas, Tift, Towns, Turner, Union, Webster, White, Wilcox, and Worth counties in the State of Georgia.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited for reimbursement.
The Corporation has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.