Notes to SEFA
Basis of presentation
Expenditures reported on the Schedule of Expenditures of Federal and Nonfederal Awards (“schedule of awards”) are reported on the 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. Louisville Wheels Transportation, Inc. has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Kentucky Transportation Cabinet requested that state grants be included in the schedule of awards and are therefore reflected in the nonfederal expenditures column.
The following reconciles the total Title III-B program expenditures to the total income received: