Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activityof Southern Nevada Transit Coalition (the Coalition) under programs of the federal government for the yearended September 30, 2022. The information in this schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Coalition, it is not intended to and does not present the financial position, changesin net assets, or cash flows of the Coalition.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.