Notes to SEFA
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: Both
Rate Explanation: OLI has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance for the Federal Railroad Administration and Federal Transportation Administration grants. OLI has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance for the Federal Highway Administration grant.