Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of Federal awards include the Federal awards activity, under programs of the federal government for the year ended June 30, 2022 in accordance with the requirements of Title 2 U.S. code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements of Federal awards (Uniform Guidance). Because the schedule 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.