Notes to SEFA
The Schedule of Expenditures of Federal Awards includes the award activity of Knoxville Utilities Board (KUB) under programs of the federal government for the year ended June 30, 2025, 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 and the State of Tennessee Audit Manual. Because the SEFA presents only the expenditures of federal and state awards, it is not intended to and does not present KUB's financial position, changes in net position, or cash flows.
KUB did not elect to use 10% de minimis indirect cost rate.