Audit 362943

Title: BASIS OF PRESENTATION Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to federal or state funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: Cross County utilizes an agreed upon indirect cost rate that varies by grant provided by the Department of Transportation. Cross County has not elected to use the 10% de minimus cost rate allowed under Uniform Guidance. The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes the federal and state award activity of Cross County Connection Transportation Management Association, Inc. (“Cross County”) under programs of the federal and state government for the year ended December 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”). Because the Schedule presents only a selected portion of the operations of Cross County, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Cross County.