Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal awards activity of
Immerse Arkansas (the Organization) and is presented on the accrual 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 Administration Requirements, Cost Principals, and Audit Requirements for Federal Awards
(Uniform Guidance). Because the SEFA presents only a selected portion of the operations of the Organization,
it is not intended to and does not present the financial position, changes in net assets, or cash flows of the
Organization.
De Minimis Rate Used: N
Rate Explanation: Immerse Arkansas does not use the de minimis indirect cost rate.