Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Gibson Electric Membership Corporation 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 U.S. Code of Federal Regulations, Title 2, 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 or changes in financial position of Gibson Electric Membership Corporation.
At June 30, 2025, there was an outstanding balance on a loan obtained through the Rural Economic Development Loan program. This loan was passed through to a subrecipient.