Audit 301870

Title: Note 1 Summary of Significant Accounting Policies Accounting Policies: Basis of Accounting used is accrual basis and schedule is presented in accordance with requirements of Titel 2 U.S. code of Federal Regulations Part 200 Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Grants are operation grants or covers the wages of all employees who are hired under the grant to to perform a specific task. Basis of accounting The accompanying schedule of expenditures of federal awards includes the federal grant activity of Basin Transit Service Transportation District and is presented on the accrual basis of accounting. The information in this 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). The District did not elect to use the 10 percent de minimis indirect cost rate.