Notes to SEFA
This Schedule is prepared on the same basis of accounting as the financial statements for the Snohomish County Public Transportation Benefit Area (PTBA). The PTBA uses the accrual basis of accounting.
The PTBA has not elected to use the de minimis indirect cost rate (15-percent) allowed for Modified Totatl Direct Costs (MTDC) under the Uniform Guidance. Expended amounts for operation and capital are direct costs and do not include indirect costs.
Program Income generated by grant supported activity in 2025 was retained and used for allowable capital or operating expenses as permitted by FTA's Grant Management Guidelines (Circular 5010.1F Chapter VI -Financial Managment, section 8 - Program Income, sub-section f - Use of Program Income). Community Transit only generates Farebox or Advertising (on buses) revenue. In 2025, only Farebox Revenue was generated; there was no Advertising Revenue because there were no federal grants with active buses to attribute the revenue. - Farebox Revenue was generated for operating projects and is always subtracted from the gross project cost to arrive at net eligible grant expense prior to billing. During 2025, Farebox revenues of $322,282 were generated under the following grants: - WA-2024-069 ($25,978; ALN 20.507) - WA-2025-014 ($226,120; ALN 20.507) - WA-2025-081 ($70,184; ALN 20.5047) - Advertising Revenue was not generated in 2025 because there were no federal grants with active buses to attribute the revenue. Total Program income generated in 2025 was $322,282.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the PTBA's portion, are more than shown. Such expenditures are recognized in the cost priciples contained in Title 2 U.S> Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.