Notes to SEFA
Title: Note 1 Reporting Entity
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee used the rate authorized in the agreement with state department of transportation
The schedule of expenditures of federal awards presents the activities of federal award programs expended by Central
Community Transit. The reporting entity is defined in Note 1 to the financial statements.
Title: Note 2 Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee used the rate authorized in the agreement with state department of transportation
The accompanying schedule of expenditures of federal awards includes the federal award activity of Central Community
Transit under programs of the federal government for the year ended December 31, 2022. 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 Central Community Transit, it is not intended to and
does not present the financial position, changes in net position, or cash flows of Central Community Transit.
Title: Note 3 Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee used the rate authorized in the agreement with state department of transportation
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as
to reimbursement.
Title: Note 4 Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee used the rate authorized in the agreement with state department of transportation
Central Community Transit did not pass through funds to subrecipients.
Title: Note 5 De Minimis Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as
to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee used the rate authorized in the agreement with state department of transportation
Central Community Transit has elected to not use the 10 percent de minimis indirect cost rate allowed under Uniform
Guidance where applicable.
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