Title: 2010 Sales Tax Series Section 5307 and 5309 Capital Grant Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2010, the CTA issued $550 million in sales tax revenue bonds for the purpose of funding various capital projects. The revenue bonds will be repaid from 2014 through 2040. This principal along with interest over a period of thirty years will be repaid through future Federal Transit Administration (FTA) Section 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2014 through 2040 in the amount of the principal payment of the Series 2010 sales tax bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $13,984,505 and $27,548,505 respectively, which is included in the Schedule under projects IL-2023-045 and IL-2024-031.
During the year ended December 31, 2024, the CTA incurred $(885,569) in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2010 Capital Bond Issue funded projects.
Project Number Description 2024 Expenditures Cumulative Expenditures Incurred to Date
10808 Perform Mid Life Overhaul $ 75,900 $ 5,373,176
10809 Perform Rail Car Overhaul - 9,000,000
10810 Oracle Upgrade ERP - 8,000,000
10866 ISRP Greenline Track - 1,605,786
10989 Rehab Rail Station – 95th - 825,718
17146 RPM CTA Bond Core - -
17156 RPM CTA Bond Non-Core (1,576,772) 1,800,425
18229 Rail Car Rehabilitation - 41,145,092
18230 Purchase Rail Cars - 220,854,853
18231 Purchase Rail Cars (IDOT Matched) - 98,841,212
18232 Contingencies - -
18233 Support Services - 1,741,957
18236 Purchase Rail Cars - 353,314
18390 RLE Outside Counsel 372,200 372,200
19502 Replace Buses - NOVA - 51,032,016
19503 Rehab North Red Station - 37,896,504
19623 Infrastructure Project Track - Milwaukee - 2,294,593
19666 Infrastructure Project Track - Wilson 243,103 4,744,148
19690 Infrastructure Project Track - RLC - 3,000,000
19580 Infrastructure Project Track - Station - 5,216,559
Total $ (885,569) $ 494,097,553
A reconciliation of projects funded by the 2010 Section 5307 and 5309 revenue bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2024:
Capital expenditures during previous years $ 494,983,122
Capital expenditures during 2024 (885,569)
Cumulative expenditures incurred through December 31, 2024 494,097,553
Less:
Grant proceeds received for principal payments in previous years (95,057,368)
Grant proceeds received for principal payments during 2024 (13,984,505)
Capital expenditures to be recorded in future years in the
schedule of expenditures of federal awards $ 385,055,680
Title: 2014 Sales Tax Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2014, the CTA issued $550 million in sales tax revenue bonds for the purpose of funding various capital projects. The revenue bonds will be repaid from 2015 through 2049. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2014 sales tax bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $0 and $25,893,343 respectively, which is included in the Schedule under projects IL-2023-045, and IL-2024-031.
During the year ended December 31, 2024, the CTA incurred $7,127,279 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2014 Capital Bond Issue funded projects.
Project Number Description 2024 Expenditures Cumulative Expenditures Incurred to Date
10767 Red/Purple Modernization $ - $ 8,750,000
10915 Upgrade Software - Loss Shunt Enhance. - 146,087
10916 Upgrade Software -Warning Sys. On Train - 42,402
10917 Upgrade Software - Red Signal Detection - 54,973
27228 Blue Line Traction Power Study 90,134 390,000
60134 Perform Rail Car Overhaul - 26,181,147
60135 Perform Rail Car Overhaul - 9,046,008
60136 Replace Buses up to 450- Base Order 300 - 1,339,963
60137 Purchase Rail Cars (5000 Series) 35,879 199,937,992
60138 Purchase Rail Cars (7000 Series) 6,845,750 42,480,669
60141 Improve Facilities - Bus Hoists Phase II - 843,915
60142 Purch Equip & Non Revenue Vehicles - 3,000,000
60143 Improve Facilities - Bus 103rd Garage 25,160 11,954,585
60144 Imp Facil - Rpl Non-Rev 61st Rail Shop 2,460 2,428,659
60145 Improve Facilities - 4G Cellular - -
60146 Open Fare Lease Payment - -
60147 Rehab Blue Line-Upg Sig - 3,860,006
60148 Upgrade Power Dist - E Lake Substation - 12,929,616
60149 Upgrd Pwr Dist Milw Substation - 2,525,694
60150 Upgrade Power Distribution -Tact Traction - 1,136,683
60151 Upgrade Power Dist - Brdwy - 1,389,393
60152 Upgrade Power Distribution - Kimball. - 28,688,053
60153 Upgrd Pwr Dist - Hubb S - 1,091,964
60154 Rehab Blue Line - ADD/C - 5,450,795
60155 Infrst Saf & Renl - BL - 381,040
60156 Infrast Safety & Renewal-Ravenswood - 14,762,122
60157 Infrst Saf & Renl - Loop - 7,250,000
60158 Infrast Saf &Renl - Elv - 12,981,210
60159 Red/Purple Modernization (2,304,000) 13,462,066
60160 95th St. Term Impr Pro - 28,047,790
60161 Imp Facilities - North Park - 321,163
60162 Imp Facilities - 98th Hoists & Spin Jacks - 215,907
60163 Imp Facilities - Fire Alarms Bus & Rail - 3,873,421
60164 Imp Facilities-74th & Midway Tuckpointng - 218,837
60165 Imp Facilities - Des Plaines - -
60166 Imp Facilities - Harlem Washers - 284,775
60167 Imp Facilities - Des Plaines Roof - 895,423
60168 Imp Facilities - Harlem Roof - 1,293,362
60169 Imp Facilities - West Shop Elec Panels - 4,605,592
60170 Imp Facilities - Env 103 - -
60171 Imp Facilities- 77th Bus Garage Washers 1,900 79,481
60172 Imp Facilities - Safety - 47,955
60173 Imp Facilities - Site Li - 1,266,771
60174 Imp Facilities - Bus Turn. - 1,557,865
60175 Imp Facilities - Roof Ma - 1,410,966
60176 Imp Facilities - Energy - 188,718
60177 Rehab Blue Line - GRD/C - 1,732,087
60178 Rehab Blue Line - Dear - 276,438
60179 Rehab Blue Line - Kimball 4,247 726,925
60181 Infra Saf Ren -Rav Loop Connector Track - 1,131,430
60182 Infra Saf Ren -Rav Loop Connector Track - 1,000,000
60190 South Shops Hazardous Waste Building - -
60191 Kedzie Bus Garage-New High Speed Doors 54,557 735,750
60192 Forest Glen Garage - Site Improvements - 2,970
60193 Bus Turnarounds - Central & Roosevelt - 1,187,939
60194 Midway Rail Shop Wheel Truing Machine - 557,280
60205 NML Lawrence to Jarvis - Ballasted Track - 12,375,212
60206 Infra Saf Ren-Grn Line - 13,738,707
60207 Rehab Blue - Jeff Pk St 4,000 640,193
60229 Mid Life Bus Over Hyb 1,091,368 9,218,440
60230 Rehab Stat-Bel Board - -
60231 Rehab Stations (ASAP) - 227,946
60232 Infrastructure Lead Abate Sys - -
60241 Infrastructure Loss Of Shunt - 264,473
60242 Infrastructure Wrk Ahead Light - 150,000
60243 Infrastructure SCASA RTU Board 55,863 387,054
60244 Infrastructure Small Scada Cab - 920,700
60245 Infrastructure Fire Jacket Rep - 105,295
60246 Infrastructure Electrical Hazard Signs - 32,049
60247 Infrs Subst Trans 602 - -
60248 Infrs Inver Repl 6024 - -
60249 Sup Ser Infrs Safe PR 61,373 278,750
60251 Infrst Safety Renewal - Track &Structure - 5,777,944
60272 Repl/Upgrade Power Distribution - 727,080
60273 Infrastructure Subway 188,895 749,506
60274 Railcar Overhaul Material - 148,043
60275 Infr Linear Heat Dete - 65,972
60279 Rehab Rail Station Be - 60,149
60281 Rehab Rail Station - 255,000
60332 Rehab Rail Station - 2,709,449
60350 P/I Rail Car Components 193,356 1,543,037
60353 Rehab Rail Station - 95th - 3,967,157
60358 Land Acquisition - Grn - 895,000
60368 Midwy Shop & 74th Garage - 1,149,116
60369 Elevated Track/Struct - 992,648
60382 Skokie Shops Clean Room Renovation 129,044 1,380,468
60448 Old Mannheim Replacement Footwalk - 250,001
60467 Cicero Grade Crossing 165,803 428,481
60493 New Control/Training 40,088 86,161
60512 Farebox Vault Demo 421,343 539,242
60520 Forest Park Race/Morg/Herm 20,059 32,147
Total $ 7,127,279 $ 524,259,307
A reconciliation of projects funded by the 2014 Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2024:
Capital expenditures during previous years $ 517,132,028
Capital expenditures during 2024 7,127,279
Cumulative expenditures incurred through December 31, 2024 524,259,307
Less:
Grant proceeds received for principal payments in previous years -
Grant proceeds received for principal payments during 2024 -
Capital expenditures to be recorded in future years in the
schedule of expenditures of federal awards $ 524,259,307
Title: 2015 Refunding Series Section 5307 and 5337 Capital Grant Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2015, the CTA issued $176 million in revenue bonds for the purpose of refunding a portion of the outstanding 5307 (Series 2004B and 2006A) and 5309 (Series 2008A) bonds. The revenue bonds will be repaid from 2018 through 2026. This principal along with interest over a period of eleven years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2018 through 2026 in the amount of the principal payment of the Series 2015 refunding bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $14,550,000 and $940,335, respectively, which is included in the Schedule under project IL-2024-031.
Title: 2017 Refunding Series Section 5307 and 5337 Capital Grant Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2018, the CTA issued $226 million in revenue bonds for the purpose of refunding a portion of the outstanding 5307 (Series 2008A) and 5309 (Series 2008 and Series 2008A) bonds. The revenue bonds will be repaid from 2019 through 2026. This principal along with interest over a period of nine years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2019 through 2026 in the amount of the principal payment of the Series 2017 refunding bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $29,605,000 and $1,906,664 respectively, which is included in the Schedule under project IL-2024-031.
Title: 2017 Second Lien Sales Tax Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2017, the CTA issued $296 million in sales tax revenue bonds for the purpose of funding various capital projects. The revenue bonds will be repaid from 2018 through 2051. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2017 sales tax bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $0 and $14,533,248 respectively, which is included in the Schedule under projects IL-2023-045 and IL-2024-031.
During the year ended December 31, 2024, the CTA incurred $3,234,565 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2017 Capital Bond Issue funded projects.
Project Number Description 2024 Expenditures Cumulative Expenditures Incurred to Date
10853 Replace Buses Up to 2 buses $ - $ 96,927
10912 Red/Purple Modernization (RPM) (732,035) 32,258,868
10913 Replace Buses 4 Elec - 11,627
10924 Rehab Rail Stations- Garfield Gateway - 6,250,000
17026 Red Line Extension Planning - Prelim Engr - 363,644
17027 Support Service 2,162 6,355
17028 Wilson Station Intermodl - 310,243
17149 CTA Third Rail Isolation Demonstration Project - -
60301 Purchase up to 5 Elec - 2,200,000
60323 Replace Buses - Purch 1 Electric Bus (EPA) - 488,889
60423 Purchase up to 3 Electric Buses - 84,838
60253 Perf Rail Car Overhaul - 976,590
60254 Bus/Rail Facilities - 895,304
60255 CTA Open Fare Paymt - -
60256 Purch Equip & Non Rev - 2,008,786
60257 Rehab Sign Systwde - BR 17,677 18,688,760
60258 Upgrade Pow Dist-Broa - -
60259 Upgrade Pow Dist- ILL - 4,500,000
60260 Purchase RailCar - 700 2,000,000 20,323,949
60261 Rehab Rail St-Quincy - 863,887
60262 Rehab Rail Station - WI 599,423 5,402,953
60263 Rehab Rail St 95th TE - 19,779,186
60264 Infrastr Green Line L - -
60265 Infrast & Safety Renewal-Track&Structure - 5,025,189
60266 Infrastr North Main L - -
60267 Rehab Blue L Sign & 31,235 66,694,098
60268 Upgrade Power Dist Mi 4,033 8,618,228
60269 Upgrade Power Dist Eas - 3,103,584
60270 Red Line Extens - PLA (4,601,715) 16,380,706
60271 Red/Purple Modernization (RPM) (838,723) 3,385,078
60283 Equipment & Non-Revenue - 515,659
60295 Parking Lots Improvement 9,200 3,675,967
60296 Tower 12 Replacement - 1,070,003
60299 Improve Facilities - 98th 41,534 406,989
60304 Rail Station - Green (7,899) 10,218,207
60306 Rail Station - Green - 682,070
60308 Rehab Green Line Garfield 45,993 235,870
60322 Rehab Rail St 95th 93,027
60370 South Shops Gas Controls Update - 800,000
60420 Purchase Ebus Chargers (15,408) 106,233
60424 Perf. Rail Car Maint - Rail Car Sumulator 352,943 534,907
60442 Rehab Rail Stations- Evanston 1,977,878
60443 Rehab Rail Stations - Quincy Loop Upgra - 731,332
60444 Perf. Rail Car Maint - Rail Car Sumulator 648,988
60445 North Park Garage - 5323 Kedzie Demo - -
60446 Rehab Rail Stations - 95th Terminal - -
60447 Improve Facilities - Critical Need - 625,384
60466 Design Cicero Grd Crossing 132,353
60497 Facilities Critical Needs - -
60510 Blu Ln-Grand/Chgo/Divsn 410
60522 Tech - Cad Avl Upgrs - 3,241,560
60547 SYSTEMWIDE LEGAL/ART -
60551 RLE - OUTSIDE COUNSEL 1,379,903 1,379,903
60549 RLE-INELIGIBLE COST 4,659,568 4,659,568
60552 RLE OFFICE -
60553 WEST SHOPS NORTH WALL 286,674 286,674
$ 3,234,565 $ 250,740,671
A reconciliation of projects funded by the 2017 Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2024:
Capital expenditures during previous years $ 247,506,106
Capital expenditures during 2024 3,234,565
Cumulative expenditures incurred through December 31, 2024 250,740,671
Less:
Grant proceeds received for principal payments in previous years -
Grant proceeds received for principal payments during 2024 -
Capital expenditures to be recorded in future years in the
schedule of expenditures of federal awards $ 250,740,671
Title: 2020A Second Lien Sales Tax Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2020, the CTA issued $368 million in revenue bonds to pay for projects included in the Capital Improvement Plan and repay a portion of CTA’s Second Lien Sales Tax Receipts Capital Improvement Notes. The revenue bonds will be repaid from 2023 through 2055.This principal along with interest over a period of thirty-two years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2023 through 2055 in the amount of the principal payment of the Series 2020A refunding bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $0 and $16,084,642, respectively, which is included in the Schedule under projects IL-2021-047, IL-2023-045, and IL-2024-031.
Title: Taxable Series 2020B Sales Tax Receipts Revenue Refunding Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2020, the CTA issued the Taxable Sales Tax Receipts Revenue Bonds, Series 2020B, in the amount of issued $534 million. The bonds were issued to refund the outstanding Sales Tax Receipts Revenue Bonds Series 2011 and repay a portion of CTA’s Second Lien Sales Tax Receipts Capital Improvement Notes. The revenue bonds will be repaid from 2021 through 2040. This principal along with interest over a period of nineteen years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2021 through 2040 in the amount of the principal payment of the Series 2020B refunding bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $21,550,713 and $15,531,030, respectively, which is included in the Schedule under projects IL-2020-054, IL-2023-045, and IL-2024-031.
During the year ended December 31, 2024, the CTA incurred $(31,386,129) in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2020B Capital Bond Issue funded projects.
Project Number Description 2024 Expenditures Cumulative Expenditures Incurred to Date
17079 Support Services - RPM Core Capacity $ 145,490 $ 906,773
17080 Support Services - RPM CMAQ 9,690 62,028
17083 RPM Core/CTA Bond RPM (Local) (61,289,505) 116,212,440
17084 RPM CMAQ/CTA 2020 Bond(Local) (1,253,075) 6,372,900
17085 RPM CMAQ Non-Core/CTA2020Bond (736,618) 163,818
60410 Perform Artic Mid-Life Bus Overhaul 9,926,723 10,370,646
60411 Replace Buses - Base Order of 100 7,011,925 7,221,419
60412 Purch Rail Cars - 7000 Series (Base 400) 18,321,711 35,859,903
60413 Perf Rail Car Overhaul - 5000 Series(714) 12,064 2,890,658
60414 Rehab Blue Line-Upgrade Signals & Track - 10,989,035
60415 Repl&Upgrade Power Distrib & Signals 7,401 102,092
60416 Facilities Maintenance - 723,698
60417 Red Line Extension Planning 147,261 22,475,669
60418 Support Services 7,750 25,250
60419 Support Services 14,212 175,614
60421 Red/Purple Modernization (RPM) (11,288,370) 1,499,585
60434 Skokie Shops Clean Room Renovation 3,943,361 3,962,155
60523 TECH - CAD AVL UPGRS 2,560,229 2,560,229
60556 IMPROVE FACILITIES 1,073,622 1,073,622
60554 Subway Exit Door Replace - -
$(31,386,129) $ 223,647,534
A reconciliation of projects funded by the 2020B Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2024:
Capital expenditures during previous years $ 255,033,663
Capital expenditures during 2024 (31,386,129)
Cumulative expenditures incurred through December 31, 2024 223,647,534
Less:
Grant proceeds received for principal payments in previous years (45,447,392)
Grant proceeds received for principal payments during 2024 (21,550,713)
Capital expenditures to be recorded in future years in the
schedule of expenditures of federal awards $ 156,649,429
Title: 2021 Refunding Series Section 5307 and 5337 Capital Grant Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2021, the CTA issued $121 million in revenue bonds for the purpose of refunding a portion of the outstanding 5307 (Series 2010 and Series 2011) and 5309 (Series 2009) bonds. The revenue bonds will be repaid from 2021 through 2029. This principal along with interest over a period of nine years will be repaid through future Federal Transit Administration (FTA) Section 5307 and 5337 grants. Accordingly, projects funded with the bond proceeds of the refunded bonds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in 2021 through 2029 in the amount of the principal payment of the Series 2021 refunding bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $300,000 and $4,358,500, respectively, which is included in the Schedule under project IL-2024-031.
Title: 2022A Second Lien Sales Tax Receipts Revenue Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2022, the CTA issued $350 million in sales tax revenue bonds for the purpose of funding various capital projects and to repay a portion of CTA’s Second Lien Sales Tax Receipts Capital Improvement Notes. The revenue bonds will be repaid from 2024 through 2057. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2022A sales tax bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $0 and $1,410,258, respectively, which is included in the Schedule under project IL-2024-031.
During the year ended December 31, 2024, the CTA incurred $43,830,096 in expenditures related to these projects. Following is a schedule of the costs incurred on CTA fiscal year 2022A Capital Bond Issue funded projects.
Project Number Description 2024 Expenditures Cumulative Expenditures Incurred to Date
17159 RPM Core/CTA Bond RPM (Local) $ (18,547) $ 53,827,587
17160 RPM CMAQ/CTA 2022 Bond (Local) 565,762 12,692,289
17161 Support Service Core / CTABondFY2022 114,723 371,123
60468 Perform Rail Car Overhaul (5000Series) - -
60469 Non-Revenue Veh. - Diesel Locomotives - -
60470 Purch Rail Cars-000 Series(Base order 400) 12,683,315 12,683,315
60471 Replace Upgrade Power Distribution & Signals 537,066 1,523,472
60472 Red Line Ext. Planning, Prelim. Engineering 17,898,969 56,713,945
60473 Systemwide Security Camera Improvements - 17,820,000
60474 South Main Line (Green) Track Gang - 3,982,745
60475 Congress Line (Blue) Track Gang - 6,450,846
60476 Dearborn & State Subway In-House Work - 6,911,612
60477 System Wide Station Enhancements 1,814,670 8,301,219
60478 South Main & Lake Line Track Improvements (43,789) 56,574,737
60479 Ravenswood (Brown) Track Improvements - 10,563,032
60480 Dearborn (Blue) Subway Improve Mid-Con - 10,966,879
60481 State (Red) Subway Improvements - 3,777,393
60482 Blue Line O'Hare-Nagle Curve Work Fast Trk (4,454) 1,353,171
60483 Blue Line Traction Power Imp.(Fast Tracks) 74,042 9,182,252
60484 Imp. Canal Substation & New Barry & Damen 40,000 5,306,842
60485 Ravenswood (Brown) Track Improvements 14,076 6,859,661
60486 Congress Line Track Repairs (LaSalle) - 7,024,058
60487 DC Breakers (Sacramental, Franklin & Nagle) - -
60488 Tactical Traction Power (Fast Tracks) 5,883,756 9,365,701
60489 Support for FTT Short Term (Fast Trks) - 640,773
60490 Red/Purple Modernization (RPM) 470,000 582,500
60491 Red Line Extension Planning-Prelim Engr 3,384,050 4,736,082
60511 Rehab Blue Line-Kimball Sub - -
60555 Elevated Track & Structure 416,457 416,457
$ 43,830,096 $ 308,627,691
A reconciliation of projects funded by the 2022A Sales Tax Receipts Revenue Refunding bonds to the amount claimed on the schedule through principal payments is as follows as of December 31, 2024:
Capital expenditures during previous years $ 264,797,595
Capital expenditures during 2024 43,830,096
Cumulative expenditures incurred through December 31, 2024 308,627,691
Less:
Grant proceeds received for principal payments in previous years -
Grant proceeds received for principal payments during 2024 -
Capital expenditures to be recorded in future years in the
schedule of expenditures of federal awards $ 308,627,691
Title: 2024A Sales Tax Receipts Revenue Refunding Bonds:
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2024, the CTA issued $659 million in sales tax revenue bonds. The bonds were issued to refund the outstanding Sales Tax Receipts Revenue Bonds, Series 2014 and to fund the purchase price of certain outstanding Sales Tax Receipts Revenue Refunding Bonds, Series 2020B via the tender option in addition to pay the costs of issuance related to the issued bonds. The revenue bonds will be repaid from 2025 through 2049. Projects funded with the bond proceeds are considered to be federally funded and will be recorded in the schedule of expenditures of federal awards in the amount of the principal payment of the Series 2024A sales tax bonds. During the year ended December 31, 2024, the current year grant award for principal and interest payments amounted to $555,000 and $2,470,631, respectively, which is included in the Schedule under projects IL-2024-031.
Title: NON-CASH AND FEDERAL INSURANCE
Accounting Policies: General:
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the CTA. The CTA reporting entity is defined in Note 2 to the CTA’s financial statements.
Basis of Presentation:
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chicago Transit 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 Chicago Transit Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CTA.
Basis of Accounting:
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State and Local Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Cost Rate:
The CTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Subrecipients:
Of the Federal expenditures presented in the schedule, the CTA provided federal awards to following subrecipients:
Subrecipient: Chicago Police Department
Program Title: Rail and Transit Security Grant Program
Assistance Listing Number: 97.075
Amount Provided: $1,362,735
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no non-cash awards or Federal Insurance maintained in the current year.