Title: Note 2: PASS-THROUGH AWARDS
Accounting Policies: Note 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of JTrans for 2023. The information in the 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, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and State of Florida and other pass through entities. Note 3: BASIS OF ACCOUNTING The Schedule was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 6: INDIRECT COST Jtrans has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
JTrans receives certain federal awards from pass-through awards of the State. The total amount of such pass-through awards is included on the supplementary schedule of expenditures of federal awards.
Title: Note 4: CONTINGENCIES
Accounting Policies: Note 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of JTrans for 2023. The information in the 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, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and State of Florida and other pass through entities. Note 3: BASIS OF ACCOUNTING The Schedule was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 6: INDIRECT COST Jtrans has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Grant monies received and disbursed by JTrans are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, JTrans does not believe that such disallowance, if any, would have a material effect on the financial position of JTrans. As of December 31, 2023, there were no material questioned or disallowed costs as a result of grant audits in process or completed.
Title: Note 5: NONCASH ASSISTANCE
Accounting Policies: Note 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of JTrans for 2023. The information in the 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, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and State of Florida and other pass through entities. Note 3: BASIS OF ACCOUNTING The Schedule was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 6: INDIRECT COST Jtrans has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Jtrans did not receive any federal noncash assistance for the year ended December 31, 2023.
Title: Note 7: FEDERALLY FUNDED INSURANCE
Accounting Policies: Note 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of JTrans for 2023. The information in the 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, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and State of Florida and other pass through entities. Note 3: BASIS OF ACCOUNTING The Schedule was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 6: INDIRECT COST Jtrans has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Jtrans did not receive federally funded insurance during the year ended December 31, 2023.
Title: Note 8: FEDERALLY FUNDED LOANS
Accounting Policies: Note 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of JTrans for 2023. The information in the 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, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly with the federal government and State of Florida and other pass through entities. Note 3: BASIS OF ACCOUNTING The Schedule was prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Note 6: INDIRECT COST Jtrans has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
JTrans has no federally funded loans as of December 31, 2023. No funds were expended in the form of loan or loan guarantees during the year ended December 31, 2023.