Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the activity of all federal programs of the San Francisco Municipal Transportation Agency (SFMTA), an enterprise fund of the City and County of San Francisco, California, for the year ended June 30, 2025. All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the accompanying Schedule.
The accompanying Schedule is presented using the accrual basis of accounting, which is described in note 2 to SFMTA’s basic financial statements.
SFMTA did not expend any federal funds to support loan programs or loan guarantee programs. SFMTA does not have federal loans balances as of June 30, 2025.
SFMTA has negotiated an indirect cost rate with the Federal Transit Administration. SFMTA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.