Audit 326885

Title: Note 3 – Program Costs Accounting Policies: Note 1 – Basis of Accounting This Schedule is prepared on the same basis of accounting as the Spokane Regional Transportation Council’s (SRTC) financial statements. The SRTC uses the Cash Basis of Accounting. De Minimis Rate Used: N Rate Explanation: Note 2 – Federal Indirect Cost Rate The SRTC has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The amount expended includes $439,882 claimed as an indirect cost recovery using an approved indirect cost rate of 47 percent. SRTC submitted the 2023 Indirect Cost Plan to Washington State Department of Transportation on January 6, 2023. The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Spokane Regional Transportation Council’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.