FAC Explorer

Audit 378311

FY End
2024-12-31
Total Expended
$849,359
Findings
2
Programs
1
Organization: Central Texas Electric Cooperative, Inc. (TX)
Year: 2024 Accepted: 2025-12-30
Auditor: BOLINGER SEGARS GILBERT & MOSS LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1167286 2024-001 Material Weakness Yes AB
1167287 2024-002 Material Weakness Yes AB

Programs

ALN Program Spent Major Findings
97.036 DISASTER GRANTS - PUBLIC ASSISTANCE (PRESIDENTIALLY DECLARED DISASTERS) $849,359 Yes 2

Contacts

Name Title Type
CJWVN7916DS4 Shawn Stanley Auditee
8009002832 Adam Bailey Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Central Texas Electric Cooperative, Inc. (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.
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.
The Cooperative has elected not to use either the 15% or 10% de minimis cost rate allowed under Uniform Guidance.

Finding Details

Finding 2024-001
Incorrect equipment hours used on the project worksheet submission Compliance Requirement: Allowable Costs/Cost Principles Condition/Criteria: The recipient and subrecipient must: Establish, document, and maintain effective internal control over the Federal award that provides reasonable assurance that the recipient or subrecipient is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. (2 CFR section 200.303(a)). Cause: The Cooperative personnel did not match the labor hours from employee timesheets to the project worksheet. Effect: Incorrect hours were recorded on the project worksheet. The errors noted did not result in material known or likely questioned costs required to be reported. Recommendation: Review timesheets to ensure they agree to the hours reported on the project worksheet. Implement a second level of review by another employee so the individual tasked with preparing the project worksheet is not performing the review.
Finding 2024-002
Material overhead allocations were included in the project worksheet submission Compliance Requirement: Allowable Costs/Cost Principles Condition/Criteria: Costs that otherwise would be treated as indirect costs may also be considered direct costs if they are directly related to a specific award (2 CFR Section 200.413(b). Cause: Material overhead allocations were included in the project worksheet. Effect: Indirect overheads are included in the material costs although they are not directly related to the federal award. Recommendation: Communicate with FEMA regarding supporting documentation that is required to substantiate material overhead costs as being directly related to the federal award.