Notes to SEFA
The Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of the Metropolitan Transit Authority of Harris County, Texas (METRO).
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to METRO’s basic financial statements.
Financial assistance revenue is reported in METRO’s basic financial statements as non-operating grant proceeds of $26 million and capital grant proceeds of $143 million for a total federal financial assistance of approximately $168 million.
METRO did not have any loans payable to, or guaranteed by, the U.S. Government or an agency thereof as of fiscal year-end.
METRO did not use the 15% de minimis indirect cost rate.