Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalaward activity of Northeast Arkansas Regional AIDS Network, Inc. under programs of the fedearlgovernment for the year ended December 31, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. [Code of Federal Regulations ] Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of NortheastArkansas Regional AIDS Network, Inc., it is not intended to and does not present the financialposition, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles continued in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.