Notes to SEFA
Accounting Policies: Note 1 Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of the Birmingham Regional Paratransit Consortium (ClasTran) under programs of the federalgovernment for the year ended September 30, 2022. The information in this Schedule is presented inaccordance with 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 ClasTran, it is notintended to and does not present the financial position, statement of activities, or cash flows of ClasTran.Note 2 Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.