City of Hot Springs 2021 Annual Comprehensive Financial Report

City of Hot Springs, Arkansas
SCHEDULE OF EXPENDITURES OF STATE AWARDS

For the Year Ended December 31, 2021

Bonds Accrued Cash Principal Accrued
Payable Revenue Receipts Repayments/ Revenues/
1/1/2021 Balances Expenditures Balances
1/1/2021 12/31/2021

State Grantor/Program Title 4,286 27,349 23,063 -
- 123,188 123,188 -
Awarding Agency - Arkansas General Assembly
Parks Grants (331) GIF David F Watkins Park WCAPDD #15-1-013 Outdoors Rec #A-10765-19-GA 11,401 - - 11,401
Parks Grants (316) GIF Majestic Park Project# A-10806-21-GA 13 13 - -
11 11 - -
Awarding Agency - Arkansas Aeronautics Department 11,425 (1,847) -
Airport Improvement Program (631) 3.05.0031.24.2016 13,272 250,000
Airport Improvement Program (631) 3.05.0031.25.2017 - - 250,000
Airport Improvement Program (631) 3.05.0031.26.2018 -
Airport Improvement Program (631) 3.05.0031.27.2019 - - 207,192 -
Airport Improvement Program (631) 3934-21 1,122,981 55,678 1,274,495
-
Awarding Agency - Arkansas Department of Transportation - - -
Selective Traffic Enforcement (372) Child Safety Seats/State Hwy Safety Program-2019 -
Highway 270 West Widening (640 & 645) ArDOT Job #CA0607/Connecting Arkansas Program - - -
Covid-19 Relief Package Public Transit Trust Fund (383) 601,596 $
$ 1,151,964 $ 217,664 $ 1,535,896
Awarding Agency - Arkansas Department of Human Services
Emergency Workers Payment Program (222)

Total State Awards

See Notes to Schedule of Expenditures of Federal and State Awards.
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City of Hot Springs, Arkansas
NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AND STATE AWARDS

For the Year Ended December 31, 2021

Note 1: Summary of Significant Accounting Policies –
Basis of Accounting. The City’s assistance program funds are accounted for on the accrual (enterprise
funds) and modified-accrual (special revenue funds) basis of accounting. Program receipts are recorded
when earned and authorized under the program requirements, and expenditures are recorded as
authorized program costs are incurred. The City has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Preparations of Schedules of Federal and State Awards. The schedules have been prepared using the
basis of accounting described in the preceding paragraph.
Note 2: Federal Awards – During the year ended December 31, 2021, the City was the recipient of
various federal grant funds. These funds were received either directly from the federal agency or
indirectly through a State of Arkansas pass-through agency.
The grant funds are administered and controlled through the respective departments of the City. The
City accounts for the funds in accordance with governmental, generally accepted accounting principles
as prescribed by the Governmental Accounting Standards Board. The balances remaining in grant funds
as of December 31, 2021, represent funds expended for authorized grant purposes and not yet received
(accrued revenue).
Note 3: State Awards – During the year ended December 31, 2021, in addition to federal financial
assistance, the State financial assistance programs are accounted for under the same accounting
principles as described above.

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