Audit 44302

Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance projects (the "Schedule") includes the federal and state grant activity of South Florida Regional Transportation Authority (the "Authority") under programs of the federal government and state of Florida for the year ended June 30, 2022. The information in the 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 (the "Uniform Guidance"), the Florida Single Audit Act, and Chapter 10.550 of the Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority. Expenditures reported in the Schedule are reported on the cash basis of accounting. The federal expenditures are recognized following the cost principles 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. The state expenditures are recognized following Chapter 10.550 of the Rules of the Auditor General. The pass through entity identifying numbers are presented where available. The Authority has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.