Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Southern Pine Electric Cooperative (the Cooperative) under a program of the federal government for the year ended December 31, 2022. Expenditures reported on the schedule are reported on the accrual basis of accounting . The information in this schedule is presented in accordance with 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) . Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
RURAL ELECTRIFICATION LOANS AND LOAN GUARANTEES (10.850) - Balances outstanding at the end of the audit period were 104,958,205.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Southern Pine Electric Cooperative (the Cooperative) under a program of the federal government for the year ended December 31, 2022. Expenditures reported on the schedule are reported on the accrual basis of accounting . The information in this schedule is presented in accordance with 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) . Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
RURAL ECONOMIC DEVELOPMENT LOANS AND GRANTS (10.854) Balances outstanding at the end of the audit period were 939,918.