Audit 323721

Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Brockton Area Transit Authority under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Brockton Area Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Brockton Area Transit Authority. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Contracted Services – The Authority contracts with third parties to provide fixed-route and demand response transportation services. The costs associated with these contracts that are funded with federal assistance are presented in the accompanying schedule of expenditures and federal awards as disbursements. The Authority maintains a system to monitor the use of these funds by contractors to assure compliance with applicable Federal Transit Administration regulations. De Minimis Rate Used: N Rate Explanation: The Brockton Area Transit Authority did not elect to use the 10-percent de minimis indirect cost rate identified in §200.414 of the Uniform Guidance.