Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Amounts within Disaster Grants – Public Assistance include adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect cost rates, if applicable, are separately negotiated with the respective grantor agency.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the New York State Thruway Authority (Authority) under programs of the federal government for the year ended December 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). Because the 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 assets, or cash flows of the Authority. Matching costs represent the Authority’s share of certain program costs and are not included in the Schedule.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Amounts within Disaster Grants – Public Assistance include adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect cost rates, if applicable, are separately negotiated with the respective grantor agency.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Amounts within Disaster Grants – Public Assistance include adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Amounts within Disaster Grants – Public Assistance include adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect cost rates, if applicable, are separately negotiated with the respective grantor agency.
The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect cost rates, if applicable, are separately negotiated with the respective grantor agency.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Amounts within Disaster Grants – Public Assistance include adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect cost rates, if applicable, are separately negotiated with the respective grantor agency.
The Authority did not pass through any federal funds to subrecipients as of and for the year ended December 31, 2024.