Notes to SEFA
Title: General
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
The accompanying Schedule of Expenditures of Federal and State Awaards presents the activity of federal and state expendiures of programs of the Cameron County Regional Mobilty Authority (the CCRMA). The CCRMA reporting entity is defined in the Note 1 to the CCRMA's basic financial statements.
Title: Basis of Accouting
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
The accompanying schedule of expenditues of federal and state awards is presented using the accrual basis of accounting.
Title: Relationship to Financial Statement
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
Federal and state ward expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expenses or capital asset additions.
Title: Relationship to Federal Financial Reports
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
Amounts reported in the accompanying schedule may not agree with the amounts report in the related fedeal and state financial report filed with the grantor agencies because of the effect of capitalization of asset and accruals made.
Title: Subrecipients
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
During the year ended September 30, 2023, Cameron County Regional Mobility Authority had no subrecipients.
Title: Indirect Cost Rate
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
The Uniform Guidance allows and organization to elect 10% de minimus indirect cost rate. For the year ended September 30, 2023. CCRMA did not elect to use this rate.
Title: Non-Cash assistance, Federal Loans and Guarantees, and Federaly Funded Insurance
Accounting Policies: The accompanyin Schedule of Expenditures of Federal and State Awards presents the activity of federal and state expenditures of programs of the Cameron County Regional Mobiliyt Authority (the CCRMA). The CCRMA reporting entity is defined in Note 1 of the CCRMA's basic Financial statements. The acccompanying schedule of expenditures of federal and state awards is presented using the accrual basis of accounting. Federal and state award expenditures as reported in the accompanying schedule of expenditures of federal and state awards are reflected in the CCRMA's financial statements as expense or capital asset additions.
De Minimis Rate Used: N
Rate Explanation: The entity elected not to use the deminimus indirect cost rate.
During the year ended September 30, 2023, Cameron County Regional Mobility Authority did not receive any Non-cash Assistance, Federal and Loan Guarantees, and Federally Fund Insurance.