Notes to SEFA
Title: Significant Accounting Policies
Accounting Policies: The Luzerne County Transportation Authority (the Authority) maintains its accounting records in accordance with accounting principles generally accepted in the United States of America. The financial information contained in the schedule of expenditures of federal awards and the schedule of Pennsylvania Department of Human Services expenditures has been prepared on the basis of accounting practices prescribed under the terms of Federal Operating Assistance and Capital Grants with the Federal Transit Administration. The practices differ from accounting principles generally accepted in the United States of America as follows:
1. Depreciation is not allowed as a project cost.
2. Certain expenditures that would not normally be included in the determination of net income are either allowable or unallowable for project purposes.
De Minimis Rate Used: N
Rate Explanation: Indirect cost of the Authority was based on actual time. The Authority did not elect to utilize the ten percent de minimus indirect cost rate.
The Luzerne County Transportation Authority (the Authority) maintains its accounting records in accordance with accounting principles generally accepted in the United States of America. The financial information contained in the schedule of expenditures of federal awards and the schedule of Pennsylvania Department of Human Services expenditures has been prepared on the basis of accounting practices prescribed under the terms of Federal Operating Assistance and Capital Grants with the Federal Transit Administration. The practices differ from accounting principles generally accepted in the United States of America as follows:
1. Depreciation is not allowed as a project cost.
2. Certain expenditures that would not normally be included in the determination of net income are either allowable or unallowable for project purposes.
Title: Indirect Cost Rate
Accounting Policies: The Luzerne County Transportation Authority (the Authority) maintains its accounting records in accordance with accounting principles generally accepted in the United States of America. The financial information contained in the schedule of expenditures of federal awards and the schedule of Pennsylvania Department of Human Services expenditures has been prepared on the basis of accounting practices prescribed under the terms of Federal Operating Assistance and Capital Grants with the Federal Transit Administration. The practices differ from accounting principles generally accepted in the United States of America as follows:
1. Depreciation is not allowed as a project cost.
2. Certain expenditures that would not normally be included in the determination of net income are either allowable or unallowable for project purposes.
De Minimis Rate Used: N
Rate Explanation: Indirect cost of the Authority was based on actual time. The Authority did not elect to utilize the ten percent de minimus indirect cost rate.
Indirect cost of the Authority was based on actual time. The Authority did not elect to utilize the ten percent de minimus indirect cost rate.
Title: Program Clusters
Accounting Policies: The Luzerne County Transportation Authority (the Authority) maintains its accounting records in accordance with accounting principles generally accepted in the United States of America. The financial information contained in the schedule of expenditures of federal awards and the schedule of Pennsylvania Department of Human Services expenditures has been prepared on the basis of accounting practices prescribed under the terms of Federal Operating Assistance and Capital Grants with the Federal Transit Administration. The practices differ from accounting principles generally accepted in the United States of America as follows:
1. Depreciation is not allowed as a project cost.
2. Certain expenditures that would not normally be included in the determination of net income are either allowable or unallowable for project purposes.
De Minimis Rate Used: N
Rate Explanation: Indirect cost of the Authority was based on actual time. The Authority did not elect to utilize the ten percent de minimus indirect cost rate.
The following program clusters, as defined by the Uniform Guidance, were treated as a single program for determining major programs:
CFDA Number
Expenditures
20.507
Federal Transit Cluster 20.526 $ 10,584,836
Transit Services Programs Cluster 20.513 $ 9,541,122
Highway Planning and Construction Cluster 20.205 $ 5,464
Medicaid Cluster 93.778 $ 852,450