Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Corridor Metropolitan Planning Organization, (Corridor MPO) under programs of the federal government for the year ended June 30, 2025. The information 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 the Corridor MPO, it is not intended to and does not present the financial position or changes in net position of the Corridor MPO.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Federal financial assistance provided to a subrecipient is treated as an expenditure when it is paid to the subrecipient.
The Corridor MPO has not elected to use the 10% de minimis cost rate.