Audit 363911

Title: Basis of Presentation Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northwest Arkansas Economic Development District, Inc. 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 (“CFR”) 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. See Note 2 of the financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not elect to use de minimis cost rate The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Northwest Arkansas Economic Development District, Inc. 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 (“CFR”) 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. See Note 2 of the financial statements.