Notes to SEFA
Title: Basis of Presentation
Accounting Policies: This schedule of expenditures of federal awards includes the federal program activity of Sebastian County, Arkansas and is presented on the accrual basis of accounting. 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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Sebastian County, Arkansas under programs of the federal government for the year ended December 31, 2022. 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 Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Sebastian County, Arkansas, it is not intended to and does not present the financial position, changes in net position, or cash flows, where applicable of Sebastian County, Arkansas.
Title: Federal Awards Passed Throughto Subrecipients
Accounting Policies: This schedule of expenditures of federal awards includes the federal program activity of Sebastian County, Arkansas and is presented on the accrual basis of accounting. 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 to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No federal financial assistance has been provided to a subrecipient.