Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Matching costs (the Organization’s share of certain program costs) are not included in the reported expenditures.
Pass-through numbers are presented where available.
The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for the program, which are reconciled with CommuterLink, Inc.’s financial reporting system. The federal expenditures reported include an allowable mark-up of labor costs as approved under the subcontract to provide transportation demand services.
De Minimis Rate Used: N
Rate Explanation: CommuterLink, Inc. did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No amounts were provided to sub-recipients.
Title: OTHER DISCLOSURES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Matching costs (the Organization’s share of certain program costs) are not included in the reported expenditures.
Pass-through numbers are presented where available.
The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for the program, which are reconciled with CommuterLink, Inc.’s financial reporting system. The federal expenditures reported include an allowable mark-up of labor costs as approved under the subcontract to provide transportation demand services.
De Minimis Rate Used: N
Rate Explanation: CommuterLink, Inc. did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by CommuterLink, Inc.’s casualty insurance policies.
There were no loans or loan guarantees outstanding at year-end.