Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Hot Springs County. The County receives federal awards both directly from federal agencies and indirectly through pass-through entities. Expenditures reported on the SEFA are reported on the accrual basis of accounting with modification for disbursements under the modified accrual basis of accounting. This is the same presentation as the County's financial statements. 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 reimbursement.
The County has not elected to utilize the 10 percent de minimis indirect cost rate.
There are no loans/loan guarantees.
Items with asterisk * are the major program tested in accordance with Uniform Guidance.