Notes to SEFA
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 Madera County Transportation Commission (the Commission). 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 SEFA 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).
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Commission 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 Madera County Transportation Commission (the Commission). 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 SEFA 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 Madera County Transportation Commission (the Commission). 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 SEFA 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).
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Commission 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 modified accrual basis of accounting, which is described in Note 1 of the
Commission’s basic financial statements.
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 Madera County Transportation Commission (the Commission). 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 SEFA 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).
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Commission has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Federal award expenditures agree or can be reconciled with the amounts reported in the Commission’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 Madera County Transportation Commission (the Commission). 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 SEFA 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).
De Minimis Rate Used: N
Rate Explanation: NOTE 4 – INDIRECT COST RATE
The Commission has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The Commission has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.