Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Altamaha Electric Membership Corporation (the Corporation) for the year ended June 30, 2025. The information in the 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 Corporation, it is not intended to and does not present the financial position, changes in equities or cash flows of the Corporation.
On March 21, 2021, the American Rescue Plan Act was signed into law, and established the Coronavirus State Fiscal Recovery Fund and Coronavirus Local Fiscal Recovery Fund, which together make up the Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program. Through the SLFRF program, the Corporation has been awarded grant funds for the construction and expansion of broadband infrastructure from the State of Georgia and local governments. In the previous periods, the years ended June 30, 2024 and 2023, the Corporation’s expenditures for the construction and expansion of broadband infrastructure under the SLFRF program totaled $4,621,876 and $2,274,511, respectively. The amount expended in the prior years was included on the Corporation’s schedule of expenditures of federal awards for the years ended June 30, 2024 and 2023.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited for reimbursement.
The Corporation has elected not to use the fifteen percent de minimis indirect cost rate allowed under the Uniform Guidance.