Audit 45092

Accounting Policies: BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal and State Awards presents the activity of all applicable federal and state awards of the Central Texas Rural Transit District City and Rural Rides for the year ended August 31, 2022. The District's reporting entity is defined in Note 1 of the financial statements. Federal and state awards received directly from federal and state agencies, as well as federal and state awards passed through other governmental agencies are included on the Schedule of Expenditures of Federal and State Awards. The information 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) and the State of Texas Single Audit Circular. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or change in net position of the District.SIGNIFICANT ACCOUNTING POLICIESExpenditures in the accompanying Schedule of Expenditures of Federal and State Awards are reported on the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 3 of the financial statements. Cost reimbursement federal and state grants are considered to be earned to the extent of expenditures made under the provisions of the grant.The format for the Schedule of Expenditures of Federal and State Awards has been prescribed by the Uniform Guidance and the State of Texas Single audit Circular. Such format includes revenue and expenditures recognized in the Central Texas Rural Transit District City and Rural Rides' financial statements. Central Texas Rural Transit District City and Rural Rides did not elect to use the 10 percent de minimis indirect cost rate.REVENUE RECONCILIATIONGovernmental transportation revenue received from the Texas Department of Transportation is composed of the following:State awards $ 1,396,683Federal awards 2,663,218Total Texas Department of Transportation Revenue $ 4,059,901MEDICAL TRANSPORTATIONThe District also participates in Medical Transportation Programs that are reimbursed on a fee basis. Total receipts for the year ended August 31, 2022 were $1,271,395 for the medical transportation program.SUBRECIPIENTSThere were no subrecipients of the federal and state expenditures presented in the accompanying Schedule of Expenditures of Federal and State Awards. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.