Notes to SEFA
The accompanying schedule presents only the expenditures incurred by the Shasta Regional Transportation Agency (the Agency) that are reimbursable under programs of federal agencies providing financial awards. For the purposes of this schedule, federal financial assistance includes the Metropolitan Planning and Research Funds passed through the California Department of Transportation. Only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. The Agency did not use the 15% de minimis indirect cost rate covered in section 200.414 of the Uniform Guidance. 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. Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Agency.
Expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Under the accrual basis of accounting, expenditures are recognized when incurred. Such expenditures are recognized following the cost principles contained in 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
During the fiscal year ended June 30, 2025, there were no payments made to subrecipients.