Notes to SEFA
Title: Program Costs
Accounting Policies: This schedule is prepared on the same basis of accounting as Link Transit's financial statements. Link Transit uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Link Transit has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance
The amounts shown as current year federal expenditures represent only the federal portion of the current year program costs. Entire program costs, including the local portion, are more than shown. Such expenditures are recognized following 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.