FAC Explorer

Audit 400888

FY End
2025-12-31
Total Expended
$2.00M
Findings
1
Programs
1
Organization: PANHANDLE RURAL ELECTRIC MEMBERSHIP ASSOCIATION (NE)
Year: 2025 Accepted: 2026-05-07
Auditor: DECORIA & COMPANY PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1214173 2025-002 Material Weakness Yes M

Programs

ALN Program Spent Major Findings
10.854 RURAL ECONOMIC DEVELOPMENT LOANS AND GRANTS $2.00M Yes 1

Contacts

Name Title Type
DB1VTL1RAJN5 Loralee Young Auditee
3087621311 Mark Burton Auditor
No contacts on file

Notes to SEFA

The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Panhandle Rural Electric Membership Association and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Requirements for Federal Awards (Uniform Guidance).
The Association did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2025-002
The Association did not obtain an itemized list of project expenditures for approved purposes from loan proceeds or a certification from the ultimate recipient of the loan certifying that all proceeds of the loan were expended on approved purposes as shown on the list of project expenditures.