Title: Note 1 - General
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of the Fresno County Rural Transit Agency (FCRTA). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. 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).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of FCRTA’s financial statements. Expenditures reported on the SEFA are reported on the modified 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 in the Schedule represent adjustments of credits made in the normal course of business to amounts reported as expenditures in prior year.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE - FCRTA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of the Fresno County Rural Transit Agency (FCRTA). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. 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).
Title: Note 2 - Basis of Accounting
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of the Fresno County Rural Transit Agency (FCRTA). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. 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).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of FCRTA’s financial statements. Expenditures reported on the SEFA are reported on the modified 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 in the Schedule represent adjustments of credits made in the normal course of business to amounts reported as expenditures in prior year.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE - FCRTA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of FCRTA’s financial statements. Expenditures reported on the SEFA are reported on the modified 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 in the Schedule represent adjustments of credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3 - Relationship to Basic Financial Statements
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of the Fresno County Rural Transit Agency (FCRTA). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. 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).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of FCRTA’s financial statements. Expenditures reported on the SEFA are reported on the modified 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 in the Schedule represent adjustments of credits made in the normal course of business to amounts reported as expenditures in prior year.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE - FCRTA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
Federal award expenditures agree and can be reconciled with the amounts reported in FCRTA’s basic financial statements.
Title: Note 4 - Indirect Cost Rate
Accounting Policies: NOTE 1 – GENERAL
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of the Fresno County Rural Transit Agency (FCRTA). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. 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).
NOTE 2 – BASIS OF ACCOUNTING
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of FCRTA’s financial statements. Expenditures reported on the SEFA are reported on the modified 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 in the Schedule represent adjustments of credits made in the normal course of business to amounts reported as expenditures in prior year.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE - FCRTA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
FCRTA has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.