Notes to SEFA
Title: Basis of Presentation
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 are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments
or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Transit did not elect to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of
Sonoma County Transit (Transit) 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 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 Transit, it is
not intended to and does not present the financial position, changes in net position, or cash flows of Transit.
Title: Assistance Listing Numbers
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 are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments
or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Transit did not elect to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Assistance Listing numbers included in the accompanying Schedule were determined based on the program name,
review of the grant contract information and the Office of Management and Budget’s Assistance Listing number.
Title: Sub Recipients
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 are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments
or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Transit did not elect to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Transit did not provide pass through funding to sub recipients during the fiscal year ended June 30, 2024.