Notes to SEFA
All federal financial award programs of Prairie Grove School District #23 (the “District”) are included in the scope of the Uniform Guidance audit. For purposes of this schedule, federal awards include those received from other agencies, the original source of which was a federal agency.
The District’s grant funds are accounted for on the modified accrual basis of accounting. Under the modified accrual basis, grant revenues are recognized when received and expenditures are recorded when paid. These grant funds are included in the Federal assistance line of the Statement of Revenues, Expenditures, and Changes in Fund Balances – Regulatory Basis. The grant programs are administered by various departments within the District. The activities of these departments are monitored by District staff to ensure compliance with the requirements of grants.
Grant expenditures reports as of June 30, 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 estimates of the year‐end accruals. The reports will agree at termination of the grant as the discrepancies noted are timing differences.
The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Medicaid reimbursements are defined as contracts for services and not federal awards; therefore, they are not covered by the reporting requirements of the Uniform Guidance. Total Medicaid funding for the year ended June 30, 2025 was $181,208, of which $42,411 was received from the Arkansas Department of Human Services.