Notes to SEFA
The Schedule of Expenditure of Federal Awards (the Schedule) includes expenditures of federal awards for the Eastern Contra Costa Transit Authority (Authority).
Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. All proprietary funds are accounted for using the accrual basis of accounting. Expenditures of Federal Awards reported on the Schedule are recognized when incurred.
The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.