Notes to SEFA
Title: Basis for Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized, as applicable, by 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: Center for Transportation and the Environment, Inc. has elected not to use the 10-percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the
federal grant activity of Center for Transportation and the Environment, Inc. under programs of
the federal government for the year ended December 31, 2023. The information in this schedule
is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards. Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements.
Title: Related Party Transactions
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized, as applicable, by 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: Center for Transportation and the Environment, Inc. has elected not to use the 10-percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
For the year ended December 31, 2023, CTE incurred an aggregate of $76,989 in expenses to
one company, who has a representative on CTE’s Board of Directors, for work associated with
the research and development projects. Payables due to this related party at December 31, 2023
were $65,365.