Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal activity of Southern Iowa Electric Cooperative (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 2 CFR 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 and other equities, or cash flows of the Cooperative.
Federal awards revenue was reflected in the financial statements in two ways in the year ended December 31, 2025: as a contribution in aid of construction and as deferred revenue, which will be transferred into contribution in aid of construction as the projects are completed.