Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of West Kentucky Educational Cooperative (the Cooperative) under programs of the federal government for the fiscal year ended June 30, 2025. The information on this Schedule is prepared in accordance with the requirement 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 selected portions of operations of the Cooperative, it is not intended to and does not present the basic financial statements of the Cooperative
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
The Cooperative did not use the 10% de minimis cost rate allowed by the Uniform Guidance. Instead using an 8% indirect cost rate per their contract with the US department of education under the GEAR UP program.
The Cooperative did not pass through any funds to subrecipients during the fiscal year ended June 30, 2025.