Notes to SEFA
Title: Federal Reimbursement
Accounting Policies: The schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operation of the Cooperative, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cooperative. Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal reimbursement are not based upon specific expenditures. Therefore, the amount reported here represent cash received rather than federal expenditures.
Title: Major Federal Financial Assistance Program
Accounting Policies: The schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operation of the Cooperative, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Cooperative. Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Cooperative has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
This represents a Major Financial Assistance Program.