Notes to SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Texarkana Urban Transit District (the District). The District's reporting entity is defined in Note 1 of the basic financial statements. Federal awards received directly from federal agencies, as well as awards passed through other government agencies, if any, are included on the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards is presented using the full accrual basis of accounting, as described in Note 1 of the basic financial statements. The information in this schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.