Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the City of Siloam Springs, Arkansas (the "City") for the year ended December 31, 2024. 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 Princples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Grant Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Princples for State, Local and Inidan Tribal Governments, or the cost princples contained the in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimburesement.
Grant Expenditures reports as of December 31, 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 esimates of the year-end accruals. The reports will agree at termination of the grant as the discrepancies noted are timing differences.
The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No awards were provided to subrecipients.