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Changes to the Uniform System of Accounts (USOA) and the National Transit Database (NTD)

In efforts to improve upon the Uniform Systems of Accounts (USOA), better align the reporting guidance with the NTD Internet Reporting system, and be responsive to the accounting guidance and changes thereof, FTA has refined and clarified the NTD reporting guidance provided to transit agencies. Changes from the 1995 version of the USOA are highlighted in the following presentation and summarized below:

• Address inconsistencies in the USOA due to changes in technology and transit organization structure

• Revise accounting principles and object classes in USOA to align with accounting and industry leading practices and standards

• Provide additional cost allocation guidance to enhance consistency in each transit agencies cost allocation model and methodology

We expect to release a Federal Register notice toward the end of October 2015. After responding to comments on the notice, FTA will decide which changes to implement. We expect them to take effect for Report Year 2017.

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