Notes to SEFA
The Schedule of Expenditures of Federal Awards includes the federal grant activity of San Miguel Authority for Regional Transportation and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (“Uniform Guidance”). The Authority has elected to not use the 10% de minimus indirect cost rate, as allowed under the Uniform Guidance.
The financial reporting entity consists of San Miguel Authority For Regional Transportation, (the Authority) as the primary government; organizations for which the Authority is financially accountable; and other organizations for which the nature and significance of their relationship with the Authority are such that exclusion would cause the Authority's financial statements to be misleading or incomplete.
The Authority receives certain federal awards from pass-through awards from the Colorado Department of Transportation. Only the federal amount of such pass-through awards is included in the Schedule of Expenditures of Federal Awards.