Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activityof Boys & Girls Club of Central Arkansas, Inc. under programs of the federal government for the year endedDecember 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost of Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion ofthe operations of Boys & Girls Club of Central Arkansas, Inc., it is not intended to and does not present the financialposition, changes in net assets, or cash flows of Boys & Girls Club of Central Arkansas, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance and Title 2 U.S. Code of FederalRegulations Part 230, wherein certain types of expenditures are not allowable or are limited as to reimbursement.