Notes to SEFA
Title: Note 3
Accounting Policies: This schedule includes the federal awards activities of Fayetteville School District No. 1 and is presented on the regulatory basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic regulatory basis financial statements. The District did not elect to use the 10% deminimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Medicaid reimbursements are defined as contracts for services and not federal awards, therefore, such reimbursements totaling $1,204,094 are not covered by the reporting requirements of the Uniform Guidance.
Title: Note 4
Accounting Policies: This schedule includes the federal awards activities of Fayetteville School District No. 1 and is presented on the regulatory basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic regulatory basis financial statements. The District did not elect to use the 10% deminimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Non-monetary assistance is reported at the approximate values as provided by the Arkansas Department of Human Services.
Title: Note 5
Accounting Policies: This schedule includes the federal awards activities of Fayetteville School District No. 1 and is presented on the regulatory basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic regulatory basis financial statements. The District did not elect to use the 10% deminimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District received approval from the Arkansas Department of Education to transfer $119,079 of Title IV, Part A - Student Support and Academic Enrichment funds to Title I, Part A.