FAC Explorer

Audit 390424

FY End
2025-12-31
Total Expended
$1.28M
Findings
1
Programs
1
Organization: Rushmore Electric Power Cooperative, Inc. (SD)
Year: 2025 Accepted: 2026-03-05
Auditor: KETEL THORSTENSON LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1176608 2025-002 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
81.008 CYBERSECURITY, ENERGY SECURITY & EMERGENCY RESPONSE (CESER) $1.28M Yes 1

Contacts

Name Title Type
N2LYNCM3FWY5 Mark Miller Auditee
6053424759 Traci Hanson Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Rushmore Electric Power Cooperative, Inc. (the Cooperative) under programs of the federal government for the year ended December 31, 2025. 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 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 patronage capital, or cash flows 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Cooperative elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.

Finding Details

Finding 2025-002
#2025-002 Finding: Internal Controls over Compliance Federal Program Affected: Cybersecurity, Energy Security & Emergency Response (CESER) ALN 81.008 Compliance Requirement: Reporting Questioned Costs: None Condition and Cause: The Cooperative has processes to comply with various federal funding requirements; however, no one is overseeing or documenting the review of overall compliance. No noncompliance was identified during the audit process. Criteria and Effect: Uniform Guidance requires non-federal entities to establish and maintain effective internal control over federal awards that provides reasonable assurance of compliance with applicable federal statutes, regulations, and the terms and conditions of the federal award. Lack of internal control procedures can result in noncompliance with federal grant requirements. Repeat Finding from Prior Year: No Recommendation: The Cooperative should develop and implement procedures for monitoring overall compliance, including clearly defined responsibilities, documentation requirements, and review frequencies. Response/Corrective Action Plan: The Cooperative agrees with the above Finding. See Corrective Action Plan.