Title: Scope of Audit Pursuant to the Uniform Guidance
Accounting Policies: The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
All federal and state financial award programs of Bentonville School District #6 (the District) are included
in the scope of the Uniform Guidance audit. For purposes of this schedule, federal awards include those
received from other agencies, the original source of which was a federal agency.
Title: Summary of Significant Accounting Policies
Accounting Policies: The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
Title: Relationship to Federal Financial Reports
Accounting Policies: The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Grant expenditures reports as of June 30, 2024, which have been submitted to grantor agencies will, in
some cases, differ slightly from amounts disclosed herein. The reports prepared for grantor agencies are
typically prepared at a later date and often reflect refined estimates of the year‐end accruals. The reports
will agree at termination of the grant as the discrepancies noted are timing differences.
Title: 10% De Minimis Indirect Cost Rate
Accounting Policies: The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: Subrecipients
Accounting Policies: The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
No awards were provided to subrecipients.
Title: Medicaid Reimbursements
Accounting Policies: The District’s grant funds are accounted for on the modified cash basis of accounting. Under the modified
cash basis, grant revenues are recognized when received and expenditures are recorded when paid. These
grant funds are included in the “Contributions, donations, and grants” line of the Statement of Revenues,
Expenditures, and Changes in Fund Balance – Regulatory Basis. The District is the recipient of federal and
state grant awards. The grant programs are administered by various departments within the District. The
activities of these departments are monitored by District staff to ensure compliance with the
requirements of grants.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Medicaid reimbursements are defined as contracts for services and not federal awards; therefore, they
are not covered by the reporting requirements of the Uniform Guidance. Total Medicaid funding for the
year ended June 30, 2024 was $1,438,756, of which $377,828 was from the Arkansas Department of
Human Services.