Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all federal financial assistance programs of Omnitrans for the year ended June 30, 2025. Federal financial assistance received directly from federal agencies, as well as federal financial assistance passed through the California Department of Transportation, is included in the Schedule. The Schedule was prepared from only the accounts of various grant programs and, therefore, does not present the financial position or results of operations of Omnitrans.
Omnitrans utilizes the accrual method of accounting to prepare its basic financial statements. The accompanying 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of the Omnitrans basic financial statements. Omnitrans elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Omnitrans provided and paid a total of $21,009,948 in federal awards to a subrecipient for the year ended June 30, 2025. This amount includes $6,549,333 in federal award expenditures that had been accrued and reported in the Schedule of Expenditures of Federal Awards for the year ended June 30, 2024, but were not included in the amount reported as federal awards provided to subrecipients in that prior year.
Consistent with management’s policy, revenues from both federal and non-federal governmental awards are collectively reported as federal, state, and local operating grants in Omnitrans’ financial statements. As a result, the amount of total federal awards expended on the Schedule does not agree with total federal, state, and local operating grants on the Statement of Revenues, Expenses, and Changes in Net Position as presented in Omnitrans’ financial statements as of and for the year ended June 30, 2025. Total federal expenditures reported include those funded by proceeds from the sale of land acquired with federal funding. These proceeds were used for the West Valley Connector Corridor Project.