Audit 352358

Title: Note 1 Accounting Policies: This schedule includes the federal awards activities of Arkansas Capital Corporation 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 Gederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Arkansas Capital Corporation did not elect to use the 10% de minimis indirect cost rate. De Minimis Rate Used: N Rate Explanation: Arkansas Capital Corporation did not elect to use the 10% de minimis indirect cost rate. This schedule includes the federal awards activities of Arkansas Capital Corporation 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 Gederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Arkansas Capital Corporation did not elect to use the 10% de minimis indirect cost rate.

Title: Note 2 Accounting Policies: This schedule includes the federal awards activities of Arkansas Capital Corporation 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 Gederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Arkansas Capital Corporation did not elect to use the 10% de minimis indirect cost rate. De Minimis Rate Used: N Rate Explanation: Arkansas Capital Corporation did not elect to use the 10% de minimis indirect cost rate. The federal expenditures presented in this schedule represent the total amount of grant funds distributed during 2024.