Notes to SEFA
Title: PRESENTATION
Accounting Policies: EXPENSES ARE REPORTED ON ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: The entity did not elect to use the deminimus indirect cost rate, indirect costs are allocated based on direct salary charges
Note 1 - Basis of Presentation:
Title: FEDERAL LOAN PROGRAM
Accounting Policies: EXPENSES ARE REPORTED ON ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: The entity did not elect to use the deminimus indirect cost rate, indirect costs are allocated based on direct salary charges
The schedule of expenditures of federal awards includes federal grant and loan activity of East Arkansas Planning and Development District, Inc. and is presented on the accrual basis of accounting. This information 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, Audits of States, Local Governments, and Non-Profit Organizations
Title: INDIRECT COST RATE
Accounting Policies: EXPENSES ARE REPORTED ON ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: The entity did not elect to use the deminimus indirect cost rate, indirect costs are allocated based on direct salary charges
The entity did not elect to use the 10% de minimus indirect cost rate.