FAC Explorer

Audit 56264

FY End
2022-06-30
Total Expended
$4.62M
Findings
0
Programs
3
Organization: Advance Transit, Inc. (VT)
Year: 2022 Accepted: 2022-10-23
Auditor: Veroff & Austin PLLC

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
20.526 Buses and Bus Facilities Formula, Competitive, and Low Or No Emissions Programs $177,056 - 0
20.509 Formula Grants for Rural Areas and Tribal Transit Program $19,557 Yes 0
20.500 Federal Transit_capital Investment Grants $10,818 - 0

Contacts

Name Title Type
XRDYJ3TWHTZ5 Adams Carroll Auditee
8022951824 Steven M Veroff CPA Auditor
No contacts on file

Notes to SEFA

Accounting Policies: NOTE 1 REPORTING ENTITYAdvance Transit, Inc. (the Organization) is a voluntary, not-for-profit organization incorporated under the laws of the State of New Hampshire (RSA 292) and is engaged to provide a comprehensive transportation network for the several towns in the Upper Connecticut River Valley Region of New Hampshire and Vermont. The Organization was founded in January 1984 and is headquartered in Wilder, Vermont.NOTE 2 SCOPE OF THE AUDIT PURSUANT TO THE UNIFORM GUIDANCEThe Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all Federal award programs of Advance Transit, Inc. All Federal awards are received directly from Federal agencies as well as Federal awards passed through other government agencies or other entities are included in the schedule.NOTE 3 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards has been prepared in the format as set forth in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, thefinancial statements.The Schedule is presented using the accrual basis of accounting. It includes all Federal awards to the Organization which had expenditure activity during the year ended June 30, 2022. Several programs are jointly funded by the State of Vermont and State of New Hampshire appropriations in addition to Federal Awards. The Schedule reflects only that part of the grant activity funded by Federal Awards. TheOrganization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.NOTE 4 CATALOG OF FEDERAL DOMESTIC ASSISTANCE (CFDA) NUMBERSThe program titles and CFDA numbers were obtained from the 2021 Catalog of Federal Domestic Assistance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.