Audit 322257

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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Federal and state grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such funds are received, they are recorded as unearned revenues until earned. De Minimis Rate Used: N Rate Explanation: Arkansas Early Learning, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The above schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Arkansas Early Learning, Inc. under programs of the federal government for the year ended December 31, 2023. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Arkansas Early Learning, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Arkansas Early Learning, Inc.