Notes to SEFA
Title: MATCHING COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federalfinancial assistance programs administered by the Central New York Regional Transportation Authority and Subsidiaries (the Authority). The amounts reported as expenditures of federal revenue were obtained from the accounting records utilized to record activity for the applicable program and periods. These accounting records are periodically reconciled to the appropriate federal financial reports for each program. The schedule of expenditures of federal awards has been prepared on the accrual basis of accounting in accordance with generally accepted accounting principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use de minimis cost rate.
Matching costs, i.e., the Authority's or New York State's share of certain program costs, are not included in the reported expenditures.