Title: Note 1 – Reporting Entity
Accounting Policies: Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
Omnitrans was organized on March 8, 1976, by a joint powers agreement between the County of San Bernardino, California (the “County”) and the following cities: Chino; Colton; Fontana; Loma Linda; Montclair; Ontario; Redlands; Rialto; San Bernardino; and Upland under Section 6506 of the California Government Code for the purpose of providing transit services under a single agency. The following cities were added thereafter: Rancho Cucamonga and Grand Terrace in 1979; Highland in 1988; Yucaipa in 1990; and Chino Hills in 1992. Omnitrans provides a variety of transit services to the public of the County. These services include bus operations, purchased transportation services with independent contractors and demand response transportation services. Omnitrans also functions as a “pass-through” administrative agency for various federal, state and local grants.
Title: Note 2 – Basis of Presentation
Accounting Policies: Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal financial assistance programs of Omnitrans. Federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through the California Department of Transportation, is included in the Schedule. The Schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position or results of operations of Omnitrans.
Title: Note 3 – Summary of Significant Accounting Policies
Accounting Policies: Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 4 – Subrecipients
Accounting Policies: Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
During the fiscal year ended June 30, 2023, Omnitrans provided federal funds to the following subrecipient: See the Notes to the SEFA for table.
Title: Note 5 – Indirect Cost Rate
Accounting Policies: Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
Title: Note 6 – Contingencies
Accounting Policies: Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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 (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Negative amounts shown in the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: Omnitrans has elected to use the 10-percent de minimis indirect rate as allowed under the Uniform Guidance.
Under the terms of federal and state grants, additional audits may be requested by the grantor agencies and certain costs may be questioned as not being appropriate expenditures under the terms of the grants. Such audits could lead to a request for reimbursement to the grantor agencies.