Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of Metra and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. All programs outlays, including accrued expenditures and capital outlays, are reported as expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Loans and Loan Guarantees- Metra does not have any loans or loan guarantees. Non Cash Assistance- Metra has not received any noncash federal assistance in FY 2022.