Title: 3. Non-cash Assistance
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal and state awards (schedule) includes the federal and state award activity of the Camino Real Regional Mobility Authority (CRRMA) under programs of the federal and state governments for the year ended August 31, 2024. 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) and the Texas Grant Management Standards. Because the schedule presents only a selected portion of the operations of the CRRMA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CRRMA.
Period of Performance - The period of performance for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 90 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Performance of Federal Funds, Part 3, OMB Compliance Supplement - May 2024.
2. BASIS OF ACCOUNTING
The schedule of expenditures of federal and state awards is presented using the accrual basis of accounting, which reflects the flow of economic resources measurement focus and requires recognition of revenue when earned and expenses when incurred. Such expenses are recognized following the cost principles contained in the Uniform Guidance and the Texas Grant Management Standards, wherein certain types of expenses are not allowable or are limited.
De Minimis Rate Used: N
Rate Explanation: 5. INDIRECT COST RATE
The CRRMA did not elect to use the 10% de minimis indirect cost rate.
The CRRMA did not receive any federal or state awards in the form of non-cash assistance during the year.
Title: 4. Subrecipients
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal and state awards (schedule) includes the federal and state award activity of the Camino Real Regional Mobility Authority (CRRMA) under programs of the federal and state governments for the year ended August 31, 2024. 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) and the Texas Grant Management Standards. Because the schedule presents only a selected portion of the operations of the CRRMA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CRRMA.
Period of Performance - The period of performance for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 90 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Performance of Federal Funds, Part 3, OMB Compliance Supplement - May 2024.
2. BASIS OF ACCOUNTING
The schedule of expenditures of federal and state awards is presented using the accrual basis of accounting, which reflects the flow of economic resources measurement focus and requires recognition of revenue when earned and expenses when incurred. Such expenses are recognized following the cost principles contained in the Uniform Guidance and the Texas Grant Management Standards, wherein certain types of expenses are not allowable or are limited.
De Minimis Rate Used: N
Rate Explanation: 5. INDIRECT COST RATE
The CRRMA did not elect to use the 10% de minimis indirect cost rate.
The CRRMA did not provide any federal or state awards to subrecipients during the year.
Title: 6. Reconciliation
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal and state awards (schedule) includes the federal and state award activity of the Camino Real Regional Mobility Authority (CRRMA) under programs of the federal and state governments for the year ended August 31, 2024. 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) and the Texas Grant Management Standards. Because the schedule presents only a selected portion of the operations of the CRRMA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CRRMA.
Period of Performance - The period of performance for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 90 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Performance of Federal Funds, Part 3, OMB Compliance Supplement - May 2024.
2. BASIS OF ACCOUNTING
The schedule of expenditures of federal and state awards is presented using the accrual basis of accounting, which reflects the flow of economic resources measurement focus and requires recognition of revenue when earned and expenses when incurred. Such expenses are recognized following the cost principles contained in the Uniform Guidance and the Texas Grant Management Standards, wherein certain types of expenses are not allowable or are limited.
De Minimis Rate Used: N
Rate Explanation: 5. INDIRECT COST RATE
The CRRMA did not elect to use the 10% de minimis indirect cost rate.
A reconciliation of operating revenues on the Statement of Revenues, Expenses, and Changes in Net Position to the Expenditures of Federal and State Awards is presented below: See the Notes to the SEFA for the chart/table.