Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority did not charge indirect costs to its federal programs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of
the Yuba-Sutter 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 Authority’s operations, it
is not intended to be and does not present the financial position, changes in net position, or cash flows of the
Authority.
Title: SUBRECIPIENTS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority did not charge indirect costs to its federal programs.
There were no subrecipients of the Authority’s programs during the year ended June 30, 2024.