Title: Note 1. Summary of Significant Accounting Policies
Accounting Policies: Note 1.
Summary of Significant Accounting Policies
Reporting entity: The schedule of expenditures of federal awards (the Schedule) includes the activity oF all federal programs administered by Capital Metropolitan Transportation Authority (the Authority).
Because this Schedule presents only a selected portion of the operations of the Authority, it is not intended to, and does not, present the financial position, changes in net position or cash flows of
the Authority.
Basis of presentation: The accompanying Schedule includes the federal grant award activity of the Authority under programs of the federal government for the year ended September 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).
Basis of accounting: The categorization of expenditures by program included in the SEFA is based on the Federal Assistance Listing number. Federal expenditures are reported in the Authority’s basic
financial statements as follows: a) Grant expenditures that meet capitalization criteria are recorded as capital assets on the Statements of Net Position. b) All other grant expenditures are reported in
the Statements of Revenues, Expenses, and Changes in Net Position. Costs are included in the SEFA to the extent they are aligned to a federal grant in the current period and included in the federal financial reports,
which is the source for the data presented in the SEFA.
De Minimis Rate Used: N
Rate Explanation: Note 2. Indirect Costs
In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect cost rate, as defined by the Uniform Guidance for the year ended September 30, 2024
Reporting entity: The schedule of expenditures of federal awards (the Schedule) includes the activity of all federal programs administered by Capital Metropolitan Transportation Authority (the Authority).
Because this Schedule presents only a selected portion of the operations of the Authority, it is not intended to, and does not, present the financial position, changes in net position or cash flows of the
Authority.
Basis of presentation: The accompanying Schedule includes the federal grant award activity of the Authority under programs of the federal government for the year ended September 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).
Basis of accounting: The categorization of expenditures by program included in the SEFA is based on the Federal Assistance Listing number. Federal expenditures are reported in the Authority’s basic
financial statements as follows: a) Grant expenditures that meet capitalization criteria are recorded as capital assets on the Statements of Net Position. b) All other grant expenditures are reported in the
Statements of Revenues, Expenses, and Changes in Net Position. Costs are included in the SEFA to the extent they are aligned to a federal grant in the current period and included in the federal financial reports,
which is the source for the data presented in the SEFA.
Title: Note 2. Indirect Costs
Accounting Policies: Note 1.
Summary of Significant Accounting Policies
Reporting entity: The schedule of expenditures of federal awards (the Schedule) includes the activity oF all federal programs administered by Capital Metropolitan Transportation Authority (the Authority).
Because this Schedule presents only a selected portion of the operations of the Authority, it is not intended to, and does not, present the financial position, changes in net position or cash flows of
the Authority.
Basis of presentation: The accompanying Schedule includes the federal grant award activity of the Authority under programs of the federal government for the year ended September 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).
Basis of accounting: The categorization of expenditures by program included in the SEFA is based on the Federal Assistance Listing number. Federal expenditures are reported in the Authority’s basic
financial statements as follows: a) Grant expenditures that meet capitalization criteria are recorded as capital assets on the Statements of Net Position. b) All other grant expenditures are reported in
the Statements of Revenues, Expenses, and Changes in Net Position. Costs are included in the SEFA to the extent they are aligned to a federal grant in the current period and included in the federal financial reports,
which is the source for the data presented in the SEFA.
De Minimis Rate Used: N
Rate Explanation: Note 2. Indirect Costs
In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect cost rate, as defined by the Uniform Guidance for the year ended September 30, 2024
In accordance with the Uniform Guidance, the Authority did not apply or use the 10% de minimis indirect
cost rate, as defined by the Uniform Guidance for the year ended September 30, 2024.