Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance or the Texas Grant Management Standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The MPO did not elect to use the 10% de minimis cost rate allowed under uniform guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The schedule of expenditures of federal and state awards (Schedule) includes the federal and state award activity of the El Paso Metropolitan Planning Organization (MPO) under programs of the federal and state government for the year ended August 31, 2024. The information in the 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 issued by the Texas Comptroller of Public Accounts. Because the Schedule presents only a selected portion of the operations of the MPO, it is not intended to and does not present the financial position, changes in net position or cash flows of the MPO.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance or the Texas Grant Management Standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The MPO did not elect to use the 10% de minimis cost rate allowed under uniform guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule is presented using the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance or the Texas Grant Management Standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The MPO did not elect to use the 10% de minimis cost rate allowed under uniform guidance.
Title: Relationship to Federal Financial Reports
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance or the Texas Grant Management Standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The MPO did not elect to use the 10% de minimis cost rate allowed under uniform guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Amounts reported in the accompanying Schedule agree or can be reconciled with amounts reported in the related federal financial assistance reports.
Title: Relationship to Basic Financial Statements
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance or the Texas Grant Management Standards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The MPO did not elect to use the 10% de minimis cost rate allowed under uniform guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
Federal award expenditures agree or can be reconciled with the amounts reported in the MPO's basic financial statements.