Audit 319992

Title: BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Arkansas Early Childhood Association and is presented on the accrual basis of accounting. The information in these schedules is presented in accordance with the requirements of the Arkansas Department of Human Services and other governmental funding sources. Therefore, some amounts presented in these schedules may differ from amounts presented in or used in the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Organization did not elect to use the 10% de minimis indirect cost rate as permitted by OMB Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal grant activity of Arkansas Early Childhood Association and is presented on the accrual basis of accounting. The information in these schedules is presented in accordance with the requirements of the Arkansas Department of Human Services and other governmental funding sources. Therefore, some amounts presented in these schedules may differ from amounts presented in or used in the preparation of the basic financial statements. The Organization did not elect to use the 10% de minimis indirect cost rate as permitted by OMB Uniform Guidance.