Notes to SEFA
Title: Program Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activities of the City of Bryant, Arkansas, and is presented on the accrual basis of accounting. 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 City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de-minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts shown as current-year expenses represent only the federal grant portion of the program costs. Entire program costs including the City’s portion may be more than shown.
Title: Airport Reimbursement for Bryant Parkway
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activities of the City of Bryant, Arkansas, and is presented on the accrual basis of accounting. 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 City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the 10 percent de-minimis indirect cost rate as allowed under the Uniform Guidance.
During 2023 the Saline County Airport Commission paid the City of Bryant $637,340, to reimburse for work completed on the Bryant Parkway that overlapped with airport property. This amount was correctly not included in the Federal amount reported above, as it was not Federal grant funding.