Notes to SEFA
Title: NOTE 3 PROGRAM COSTS
Accounting Policies: The schedule of expenditures of federal awards is prepared on the same basis of accounting as GTA’s financial statements. GTA uses the cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: GTA has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
The amount shown as current year expenditures represents only the federal grant portion of the program costs. Entire program costs, including GTA’s portion, may be more than shown