Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) presents the activity of all federal award programs of the Amador Transit (System). The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Expenditures reported in the accompanying Schedule are presented using the accrual basis of accounting for grants accounted for in the basic financial statements. 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. Pass-through entity identifying numbers are presented where applicable. Amador Transit did not elect to use the 15% de minimis cost rate as covered in 2 CFR Section 200.414 Indirect (F&A) costs. As a result of the COVID-19 pandemic, many new federal programs have been established and funding has been added to existing federal programs. Expenditures funded from the following acts are denoted in the Schedule by the prefix COVID-19 in the federal program title: • Coronavirus Preparedness and Response Supplemental Appropriations Act (CPRSAA) • Families First Coronavirus Response Act • Coronavirus Aid, Relief, and Economic Security Act (CARES Act) • Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA) • American Rescue Plan Act (ARPA)
Expenditures of federal awards are reported in Amador Transit’s basic financial statements as expenses, grant revenue, or capital assets. Federal award expenditures agree or can be reconciled with the amounts reported in the System’s basic financial statements.