Notes to SEFA
Title: NOTE 3 – PROGRAM COSTS
Accounting Policies: Note 1 - The Schedule of Expenditures of Federal Awards and State & Local Awards are prepared on the same basis of accounting as the Clark County Public Transportation Benefit Area’s financial statements. The PTBA uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - The PTBA does not use the 10 percent de minimis cost rate as covered in 2 CFR §200.414 Indirect (F&A) costs.
All open grants are shown. The amounts shown as current-year expenses represent only the grantor’s portion of the program costs. Entire program costs, including the PTBA’s portion, may be more than shown.
Title: NOTE 4 – GRANT ACCRUALS & PRE-AWARD AUTHORITY
Accounting Policies: Note 1 - The Schedule of Expenditures of Federal Awards and State & Local Awards are prepared on the same basis of accounting as the Clark County Public Transportation Benefit Area’s financial statements. The PTBA uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 2 - The PTBA does not use the 10 percent de minimis cost rate as covered in 2 CFR §200.414 Indirect (F&A) costs.
At times the PTBA may be awarded grant funds through either the State of Washington or the Federal Transit Administration that allow for the agency to incur obligations against the grants in advance of the final execution of the grant agreements. This “Pre-Award Authority” is based on specific criteria set by the individual grant programs.