Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity ofthe Authority under programs of the federal government for the year ended December 31, 2022. The information onthis Schedule is prepared 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 (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intendedto and does not present the financial position, changes in net position, or cash flows of the Authority.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures mayor may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE D SUBRECIPIENTSThe Authority passes certain federal awards received from the U.S. Department of Transportation Federal TransitAdministration to other governments or not-for-profit agencies (subrecipients). As Note B describes, the Authorityreports expenditures of laws, regulations, and the provisions of contracts or grant agreements, and that subrecipientsachieve the awards performance goals.
Title: MATCHING REQUIREMENTS
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity ofthe Authority under programs of the federal government for the year ended December 31, 2022. The information onthis Schedule is prepared 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 (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intendedto and does not present the financial position, changes in net position, or cash flows of the Authority.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures mayor may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE E MATCHING REQUIREMENTSCertain Federal programs require the Authority to contribute non-Federal funds (matching funds) to support theFederally-funded programs. The Authority has met its matching requirements. The Schedule does not include theexpenditure of non-Federal matching funds.