Audit 341477

Title: Basis of Presentation Accounting Policies: A. Expenditures reported on the Schedule are reported on the 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. B. Pass-through entity identifying numbers are presented where available De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Manchester Transit Authority under programs of the federal government for the year ended June 30, 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). Because the Schedule presents only a selected portion of the operations of Manchester Transit Authority, it is not intended to and does not present the financial position, changes in financial position and cash flows of Manchester Transit Authority.

Title: Subrecipients Accounting Policies: A. Expenditures reported on the Schedule are reported on the 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. B. Pass-through entity identifying numbers are presented where available De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Manchester Transit Authority does not have any subrecipients or subrecipient expenditures.