Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) has been prepared from Electric Power Research Institute Inc.’s, (the “Institute” or EPRI) accounting records and is presented on the accrual basis of accounting 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”). The purpose of the Schedule is to present a summary of those activities of EPRI for the year ended December 31, 2025 which have been partially financed by the U.S. government (federal awards). For purposes of the Schedule, federal awards include all assistance entered into directly between EPRI and the federal government and between EPRI and other primary recipients of federal government funding (pass-through). Amounts Passed-Through to Subrecipients are included in Total Federal Expenditures. In addition to Total Federal Expenditures, EPRI reported $6,661,655 in cost share spending on these federal awards during the year ended December 31, 2025. Because the Schedule presents only a selected portion of the activities of the Institute, it is not intended to, and does not, present either the consolidated financial position, changes in net assets, or cash flows of the Institute.
The Institute has not elected to use the de minimis cost rate of up to 15% as covered in §200.414(f) Indirect (F&A) costs of the Uniform Guidance.
During the year ended December 31, 2025, the Institute did not receive any federal nonmonetary assistance.
During the year ended December 31, 2025, the Institute excluded $428,000 of costs from its Schedule of Expenditures of Federal Awards related to five federal awards that are currently under termination appeals with the U.S. Department of Energy. These incurred costs have not been invoiced to the agency while pending resolution of the appeals. If the termination appeals are resolved favorably, the Institute may invoice the related costs to the sponsoring agency in accordance with award terms. If the terminations are upheld, the Institute will address the disposition of such costs as part of the award closeout process.