Audit 503

Title: Basis of Presentation Accounting Policies: This schedule of federal awards includes the federal program activity of United Way of Fort smith Area, Inc. and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles containted in the Uniform guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: United Way of Fort Smith Area, Inc. has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of United Way of Fort Smith Area, Inc. under programs of the federal governments 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 Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of United Way of Fort Smith Area, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.