Title: Reporting Entity
Accounting Policies: Note 1 - This report on Federal Awards includes the federal awards of the Rockford Mass Transit District. The reporting entity for the Rockford Mass Transit District is based upon criteria established by the Governmental Accounting Standards Board. Note 2- The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Rockford Mass Transit District under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the 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 the Rockford Mass Transit District, it is not intended to and does not present the financial position, changes in net position or cash flows of the Rockford Mass Transit District. The accounting records of the District's grant programs are maintained on the accrual basis of accounting. Expenditures are recorded when the liability is incurred and revenues are recorded as earned. 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. Pass-through entity identifying numbers are presented where available. Note 3 - There were two major programs for the year ended June 30, 2024 which included the Federal Transit Cluster and Transit Services Programs Cluster. The Federal Transit Cluster includes the Federal Transit Formula Grants (ALN #20.507) and Buses and Bus Facilities Formula, Competitive and Low or No Emissions Programs (ALN #20.526) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of financing capital projects and supporting public transportation services in urbanized areas. The Transit Services Programs Cluster includes the Enhanced Mobility of Seniors and Individuals with Disabilities Program (ALN #20.513) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of assisting in meeting transportation needs of older adults and persons with disabilities.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are no included in costs recovered
This report on Federal Awards includes the federal awards of the Rockford Mass Transit District. The reporting entity for the Rockford Mass Transit District is based upon criteria established by the Governmental Accounting Standards Board.
Title: Basis of Presentation
Accounting Policies: Note 1 - This report on Federal Awards includes the federal awards of the Rockford Mass Transit District. The reporting entity for the Rockford Mass Transit District is based upon criteria established by the Governmental Accounting Standards Board. Note 2- The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Rockford Mass Transit District under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the 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 the Rockford Mass Transit District, it is not intended to and does not present the financial position, changes in net position or cash flows of the Rockford Mass Transit District. The accounting records of the District's grant programs are maintained on the accrual basis of accounting. Expenditures are recorded when the liability is incurred and revenues are recorded as earned. 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. Pass-through entity identifying numbers are presented where available. Note 3 - There were two major programs for the year ended June 30, 2024 which included the Federal Transit Cluster and Transit Services Programs Cluster. The Federal Transit Cluster includes the Federal Transit Formula Grants (ALN #20.507) and Buses and Bus Facilities Formula, Competitive and Low or No Emissions Programs (ALN #20.526) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of financing capital projects and supporting public transportation services in urbanized areas. The Transit Services Programs Cluster includes the Enhanced Mobility of Seniors and Individuals with Disabilities Program (ALN #20.513) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of assisting in meeting transportation needs of older adults and persons with disabilities.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are no included in costs recovered
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of the Rockford Mass Transit District under programs of the federal government for
the year ended June 30, 2024. The information in this Schedule is presented in accordance with the
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 the Rockford Mass Transit District, it is not intended to and does not
present the financial position, changes in net position or cash flows of the Rockford Mass Transit District.
The accounting records of the District's grant programs are maintained on the accrual basis of
accounting. Expenditures are recorded when the liability is incurred and revenues are recorded as
earned. 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. Pass-through entity identifying numbers are
presented where available.
Title: Description of the Major Program
Accounting Policies: Note 1 - This report on Federal Awards includes the federal awards of the Rockford Mass Transit District. The reporting entity for the Rockford Mass Transit District is based upon criteria established by the Governmental Accounting Standards Board. Note 2- The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Rockford Mass Transit District under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the 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 the Rockford Mass Transit District, it is not intended to and does not present the financial position, changes in net position or cash flows of the Rockford Mass Transit District. The accounting records of the District's grant programs are maintained on the accrual basis of accounting. Expenditures are recorded when the liability is incurred and revenues are recorded as earned. 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. Pass-through entity identifying numbers are presented where available. Note 3 - There were two major programs for the year ended June 30, 2024 which included the Federal Transit Cluster and Transit Services Programs Cluster. The Federal Transit Cluster includes the Federal Transit Formula Grants (ALN #20.507) and Buses and Bus Facilities Formula, Competitive and Low or No Emissions Programs (ALN #20.526) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of financing capital projects and supporting public transportation services in urbanized areas. The Transit Services Programs Cluster includes the Enhanced Mobility of Seniors and Individuals with Disabilities Program (ALN #20.513) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of assisting in meeting transportation needs of older adults and persons with disabilities.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are no included in costs recovered
There were two major programs for the year ended June 30, 2024 which included the Federal Transit
Cluster and Transit Services Programs Cluster. The Federal Transit Cluster includes the Federal Transit
Formula Grants (ALN #20.507) and Buses and Bus Facilities Formula, Competitive and Low or No
Emissions Programs (ALN #20.526) awarded by the Federal Transit Administration - U.S. Department of
Transportation to the Rockford Mass Transit District for the purpose of financing capital projects and
supporting public transportation services in urbanized areas. The Transit Services Programs Cluster
includes the Enhanced Mobility of Seniors and Individuals with Disabilities Program (ALN #20.513)
awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass
Transit District for the purpose of assisting in meeting transportation needs of older adults and persons
with disabilities.
Title: Relationship to Basic Financial Statements
Accounting Policies: Note 1 - This report on Federal Awards includes the federal awards of the Rockford Mass Transit District. The reporting entity for the Rockford Mass Transit District is based upon criteria established by the Governmental Accounting Standards Board. Note 2- The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Rockford Mass Transit District under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the 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 the Rockford Mass Transit District, it is not intended to and does not present the financial position, changes in net position or cash flows of the Rockford Mass Transit District. The accounting records of the District's grant programs are maintained on the accrual basis of accounting. Expenditures are recorded when the liability is incurred and revenues are recorded as earned. 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. Pass-through entity identifying numbers are presented where available. Note 3 - There were two major programs for the year ended June 30, 2024 which included the Federal Transit Cluster and Transit Services Programs Cluster. The Federal Transit Cluster includes the Federal Transit Formula Grants (ALN #20.507) and Buses and Bus Facilities Formula, Competitive and Low or No Emissions Programs (ALN #20.526) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of financing capital projects and supporting public transportation services in urbanized areas. The Transit Services Programs Cluster includes the Enhanced Mobility of Seniors and Individuals with Disabilities Program (ALN #20.513) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of assisting in meeting transportation needs of older adults and persons with disabilities.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are no included in costs recovered
Federal financial capital and operating assistance is reported in the Rockford Mass Transit District's basic financial statements as follows: Federal Operating Subsidy $ 3,686,585
Federal Capital Contributions 9,374,995
Total Federal Schedule of Expenditures of Federal Awards $ 13,061,579
Federal Capital Grant Contributions $ 9,374,995
State and Local Capital Grant Contributions 1,590,037
Total Capital Contributions per the Basic Financial Statements $ 10,965,032
Title: Indirect Cost Rate
Accounting Policies: Note 1 - This report on Federal Awards includes the federal awards of the Rockford Mass Transit District. The reporting entity for the Rockford Mass Transit District is based upon criteria established by the Governmental Accounting Standards Board. Note 2- The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Rockford Mass Transit District under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the 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 the Rockford Mass Transit District, it is not intended to and does not present the financial position, changes in net position or cash flows of the Rockford Mass Transit District. The accounting records of the District's grant programs are maintained on the accrual basis of accounting. Expenditures are recorded when the liability is incurred and revenues are recorded as earned. 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. Pass-through entity identifying numbers are presented where available. Note 3 - There were two major programs for the year ended June 30, 2024 which included the Federal Transit Cluster and Transit Services Programs Cluster. The Federal Transit Cluster includes the Federal Transit Formula Grants (ALN #20.507) and Buses and Bus Facilities Formula, Competitive and Low or No Emissions Programs (ALN #20.526) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of financing capital projects and supporting public transportation services in urbanized areas. The Transit Services Programs Cluster includes the Enhanced Mobility of Seniors and Individuals with Disabilities Program (ALN #20.513) awarded by the Federal Transit Administration - U.S. Department of Transportation to the Rockford Mass Transit District for the purpose of assisting in meeting transportation needs of older adults and persons with disabilities.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are no included in costs recovered
Rockford Mass Transit District has elected not to use the 10% de minimis cost rate.