Notes to SEFA
Title: NOTE 3 – PROGRAM COSTS
Accounting Policies: This schedule is prepared on the same basis of accounting as Link Transit’s financial statements. Link Transit uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Link Transit elected to not use the 10% de minimis cost rate as covered in § 200.510(b)(6) Indirect (F&A) costs.
The amounts shown as current year expenditures represent only the federal grant portion of
the program costs. Entire program costs, including Link Transit’s portion, are more than shown.