Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of Altamaha Electric Membership Corporation (the Corporation) for the year ended June 30,
2023. The information in the 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 the Corporation, it is not intended to and does not present the
financial position, changes in equities or cash flows of the Corporation.
Title: Federal Award
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance.
On March 21, 2021, the American Rescue Plan Act was signed into law, and established the Coronavirus
State Fiscal Recovery Fund and Coronavirus Local Fiscal Recovery Fund, which together make up the
Coronavirus State and Local Fiscal Recovery Funds (SLFRF) program. Through the SLFRF, the
Corporation has been awarded grant funds for the construction and expansion of broadband infrastructure
from the State of Georgia and local governments.
Title: Summary of Signifiant Account Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited for reimbursement.
Title: Indirct Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited for reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The Corporation has elected not to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance.