Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on this schedule are reported on the regulatory 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal
activity of Blytheville School District No. 5 (District) under programs of the federal government for the year ended
June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 200 U.S. Code of
Federal Regulations (CFR) 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 District, it is not intended to and does not present the financial position or changes in financial
position of the District.
Title: Note 2
Accounting Policies: Expenditures reported on this schedule are reported on the regulatory 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Summary of Significant Policies - Expenditures reported on this schedule are reported on the regulatory 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.
Title: Note 3
Accounting Policies: Expenditures reported on this schedule are reported on the regulatory 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported at the approximate value as provided by the U.S. Department of Agriculture.
Title: Note 4
Accounting Policies: Expenditures reported on this schedule are reported on the regulatory 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2023, the District received Medicaid funding of $78,884 from the Arkansas
Department of Human Services. Such payments are not considered federal awards expended,
and therefore are not included in the above schedule.
Title: Note 5
Accounting Policies: Expenditures reported on this schedule are reported on the regulatory 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Of the federal expenditures presented in this schedule, the District did not provide any awards to sub recipients.
Title: Note 6
Accounting Policies: Expenditures reported on this schedule are reported on the regulatory 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The District has not elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.