Notes to SEFA
Title: NOTE 3:
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Arkansas Colleges of Health Education (ACHE) 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of ACHE, it is not intended to and does not present the financial position, changes in net assets, or cash flow of ACHE.
De Minimis Rate Used: Y
Rate Explanation: 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. ACHE has elected to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance.
ACHE currently participates in the Federal Direct Student Loan Program (Direct Loan Program) which includes the Federal Unsubsidized Stafford Loan Program and the Federal Direct PLUS Loan Program. Proceeds under the Direct Loan Program are disbursed by the Federal government, rather than a lending institution, with ACHE providing various administrative support. As ACHE is only responsible for certain administrative duties, outstanding loans are not included in ACHE's consolidated financial statements. It is not practical to determine the balance of loans outstanding to students under the program as of June 30, 2024.
Title: NOTE 4:
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Arkansas Colleges of Health Education (ACHE) 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of ACHE, it is not intended to and does not present the financial position, changes in net assets, or cash flow of ACHE.
De Minimis Rate Used: Y
Rate Explanation: 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. ACHE has elected to use the 10‐percent de minimis indirect cost rate allowed under the Uniform Guidance.
ACHE did not offer any correspondence courses or have any correspondence students during the year ended June 30, 2024. There were no students enrolled that were incarcerated. There were no students enrolled with ACHE without a high school diploma or recognized equivalent.