Title: Note 1 Summary of Significant Accounting Policies
Accounting Policies: The expenditures for each of the federal financial assistance programs are
presented on the accrual basis of accounting for the Authority’s fiscal year. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2023.
Reporting entity: The schedule of expenditures of federal awards (the Schedule) includes the activity of
all federal programs administered by Capital Metropolitan Transportation Authority (the Authority).
Because this Schedule presents only a selected portion of the operations of the Authority, it is not
intended to, and does not, present the financial position, changes in net position or cash flows of the
Authority.
Title: Note 1 Summary of Significant Accounting Policies
Accounting Policies: The expenditures for each of the federal financial assistance programs are
presented on the accrual basis of accounting for the Authority’s fiscal year. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2023.
Basis of presentation: The Schedule presents total federal awards expended for each individual program and assistance listing number 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).
Title: Note 1 Summary of Significant Accounting Policies
Accounting Policies: The expenditures for each of the federal financial assistance programs are
presented on the accrual basis of accounting for the Authority’s fiscal year. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2023.
Basis of accounting: The expenditures for each of the federal financial assistance programs are presented on the accrual basis of accounting for the Authority’s fiscal year. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 1 Summary of Significant Accounting Policies
Accounting Policies: The expenditures for each of the federal financial assistance programs are
presented on the accrual basis of accounting for the Authority’s fiscal year. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2023.
Loan and loan guarantees: The Authority has no loans or loan guarantees.
Title: Note 2 Indirect Costs
Accounting Policies: The expenditures for each of the federal financial assistance programs are
presented on the accrual basis of accounting for the Authority’s fiscal year. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2023.
In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2023.