Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Electric Power Board of Chattanooga and is presented on the accrual basis of accounting. Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Where applicable, the Electric System's accounting records follow the Federal Energy Regulatory Commission's Uniform System of Accounts Prescribed for Public Utilities.
The Electric Power Board of Chattanooga has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
FEMA disaster-related costs are often incurred in periods prior to their recognition on the Schedule of Expenditures of Federal Awards. Expenditures are reported on the SEFA in the fiscal year in which FEMA approves the related Project Worksheets and the costs become allowable for reimbursement under the federal award. The FEMA reimbursement under ALN 97.036 was recorded during FY2025 for actual storm costs incurred during FY2024