Reporting Entity The Schedule of Expenditures of Federal Awards (the Schedule) includes the activity of all federal programs administered by Central Texas Regional Mobility Authority (the Authority). Because this schedule presents only a selected portion of the operations of the Authority, it is not intended to, and does not, present the financial position, changes in net position or cash flows of the Authority. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Central Texas Regional Mobility Authority (the “Authority”) for the year ended June 30, 2025. The Authority’s reporting entity is defined in Note 1 of the Authority’s Annual Financial Report. The accompanying notes are an integral part of this Schedule. All federal awards received directly by the primary government from federal agencies are included in the scope of the Federal Single Audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and are included on the Schedule of Expenditures of Federal Awards. There were no funds passed to subrecipients. Basis of Accounting The expenditures for the federal financial assistance program are presented on the accrual basis of accounting
The Authority uses the applicable federally negotiated indirect cost rate and has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
In February 2021, the Authority entered into a secured loan agreement (the 2021A TIFIA Loan Agreement) with the United States Department of Transportation, pursuant to which the Authority is authorized to borrow an aggregate amount not to exceed $448,383,623 (the 2021A TIFIA Loan), excluding interest that is capitalized, to pay or reimburse the Authority for eligible project costs of the 183 South Project, the 290E Phase III Project and the 183A Phase III Project. The 2021A TIFIA Loan is comprised of the 183-S Tranche (in an aggregate principal amount not to exceed $302,980,387 relating to the 183 South Project), the Manor Expressway Tranche (in an aggregate principal amount not to exceed $38,690,346 relating to the 290E Phase III Project) and the 183A Tranche (in an aggregate principal amount not to exceed $106,712,890 relating to the 183A Phase III Project). The Authority’s obligations to repay amounts borrowed under the 2021A TIFIA Loan Agreement are evidenced by the Authority’s Subordinate Lien Revenue Bonds, Taxable Series 2021A (the 2021A TIFIA Bonds). The 2021A TIFIA Bonds are comprised of the 183-S TIFIA Bond (which evidences the Authority’s obligations with respect to the 183-S Tranche of the 2021A TIFIA Loan), the Manor Expressway TIFIA Bond (which evidences the Authority’s obligations with respect to the Manor Expressway Tranche of the 2021A TIFIA Loan) and the 183A TIFIA Bond (which evidences the Authority’s obligations with respect to the 183A Tranche of the 2021A TIFIA Loan).The 183-S TIFIA Bond, the Manor Expressway TIFIA Bond and the 183A TIFIA Bond bear interest at 2.19%, 2.20% and 2.20% per annum, respectively. The final maturity date of the 183-S TIFIA Bond is January 1, 2049. The final maturity date of the Manor Expressway TIFIA Bond is January 1, 2054. The final maturity date of the 183A TIFIA Bond will be the earlier of (a) the date that is thirty-five (35) years from the date of substantial completion of the 183A Phase III Project and (b) January 1, 2055. Payments of principal and interest on the 2021A TIFIA Bonds are payable each January 1 and July 1, commencing on July 1, 2024, for the 183-S TIFIA Bond, January 1, 2025, for the Manor Expressway TIFIA Bond, and January 1, 2029, for the 183A TIFIA Bond. The Authority has received 2021A TIFIA loan proceeds from the 183-S Tranche of approximately $282.2 million and the Manor Expressway Tranche of $38.6 million, which were used to refinance certain outstanding obligations of the Authority relating to the 183 South Project and the 290E Phase III Project. The Authority has received loan proceeds from the 183A Tranche of the 2021A TIFIA Loan of approximately $106.7 million, which were used to provide long-term financing for the 183A Phase III Project. As of June 30, 2025, the Manor Expressway TIFIA Bond had an outstanding balance of $41.1 million, which included accreted interest of approximately $2.4 million. As of June 30, 2025, the 183-S TIFIA Bond had a balance outstanding of $322.4 million which included accreted interest of approximately $19.4 million. As of June 30, 2025, the 183A Phase III TIFIA Bond had an outstanding balance of $106.7 million.