Notes to SEFA
Title: 1
Accounting Policies: The SEFA is presented on a fund basis and is prepared in accordance with the regulatory basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% deminimus indirect cost rate.
This schedule includes the federal awards activity of the District and is presented on the regulatory
basis of accounting. 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 . Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the preparation
of the basic financial statements.
Title: 2
Accounting Policies: The SEFA is presented on a fund basis and is prepared in accordance with the regulatory basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% deminimus indirect cost rate.
The District did not elect to use the 10% deminimus indirect cost rate.
Title: 3
Accounting Policies: The SEFA is presented on a fund basis and is prepared in accordance with the regulatory basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% deminimus indirect cost rate.
Nonmonetary assistance is reported at the approximate value as provided by the Arkansas
Department of Education.
Title: 4
Accounting Policies: The SEFA is presented on a fund basis and is prepared in accordance with the regulatory basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% deminimus indirect cost rate.
Medicaid reimbursements are defined as contracts for services and not federal awards, therefore,
such reimbursements totaling $874,757 are not covered by the reporting requirements of the
Uniform Guidance.