Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Metroplan under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Metroplan, it is not intended to and does not present the financial position, changes in net assets or cash flows of Metroplan. All federal awards received directly from federal agencies, as well as awards passed through other government agencies, are included on the schedule.
De Minimis Rate Used: N
Rate Explanation: Metroplan has elected not to use the 10% de minimis indirect cost rate as provided under the Uniform Guidance. The indirect cost rate used for the year ended December 31, 2023 is described in Note 5 to the financial statements.
See table on page 25
Title: Note 2: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Metroplan under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Metroplan, it is not intended to and does not present the financial position, changes in net assets or cash flows of Metroplan. All federal awards received directly from federal agencies, as well as awards passed through other government agencies, are included on the schedule.
De Minimis Rate Used: N
Rate Explanation: Metroplan has elected not to use the 10% de minimis indirect cost rate as provided under the Uniform Guidance. The indirect cost rate used for the year ended December 31, 2023 is described in Note 5 to the financial statements.
See table on page 25
Title: Note 3: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Metroplan under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Metroplan, it is not intended to and does not present the financial position, changes in net assets or cash flows of Metroplan. All federal awards received directly from federal agencies, as well as awards passed through other government agencies, are included on the schedule.
De Minimis Rate Used: N
Rate Explanation: Metroplan has elected not to use the 10% de minimis indirect cost rate as provided under the Uniform Guidance. The indirect cost rate used for the year ended December 31, 2023 is described in Note 5 to the financial statements.
See table on page 25