This research will develop best accounting practices for sub-recipient transit agencies to record within their own financial systems program income associated with projects in open federal transit grants administered by state departments of transportation. This project will provide solutions for the accounting challenges and issues faced by sub-recipients of state departments of transportation in reporting program income for use in the Federal Financial Reports. Such challenges include the tracking of program income to specific grant funded assets and projects. Additional challenges for state DOT’s include multiple sub-recipient transit agencies that participate within the same open federal transit grant, as well as when individual sub-recipient transit agencies have an asset or project associated with multiple open federal grants.
