Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Electricore, Inc. 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 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 Electricore, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Electricore, Inc. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Amount Provided to Subrecipients represents the actual expenditures incurred by subrecipients and reimbursable by Electricore, Inc.
Electricore, Inc. has elected not to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
Two federal awards listed in the SEFA under ALN 81.255 were cancelled by the U.S. Department of Energy (DOE) during the year ended December 31, 2025. Subsequently, the cancellation decisions were appealed by the prime recipients of the respective programs and a final decision regarding the reinstatement of these two awards is pending and the appeals are still under review with DOE. During this period, the Corporation continued to provide services under these awards at the direction of the prime. Therefore, expenditures incurred by the Corporation for the two programs were included in the SEFA. The two awards affected were Agreement with the DOE and Sutter CCUS, LLC (DE-CD0000045) and Agreement with DOE and Calpine Texas CCUS Holdings, LLC (DE-CD0000046).