Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Mountain Area Regional Transit Authority (MARTA) under programs of the federal government for the year ended June 30, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operation of the MARTA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the MARTA.
De Minimis Rate Used: N
Rate Explanation: CA Department of Transportation the passed-through entity did not specify/requiret the use of the minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Mountain Area Regional Transit Authority (MARTA) under programs of the federal government for the year ended June 30, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operation of the MARTA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the MARTA.
Title: Note 2 – Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Mountain Area Regional Transit Authority (MARTA) under programs of the federal government for the year ended June 30, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operation of the MARTA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the MARTA.
De Minimis Rate Used: N
Rate Explanation: CA Department of Transportation the passed-through entity did not specify/requiret the use of the minimis cost rate.
MARTA has not elected to use the 10% de minimis cost rate as covered in§200.414 Indirect (F&A) costs. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 3 – Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Mountain Area Regional Transit Authority (MARTA) under programs of the federal government for the year ended June 30, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operation of the MARTA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the MARTA.
De Minimis Rate Used: N
Rate Explanation: CA Department of Transportation the passed-through entity did not specify/requiret the use of the minimis cost rate.
No federal financial assistance has been provided to a subrecipient.