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COS: :ti;I`if3i: ;SE?:;:::T SYSi'r.}; <br />COS'i RF1;1Iili::S%}i:~tiT SYSTE::•1 O~'I=Rti'IEiti <br />General <br />The cost rein;burse:~ent syste~~~ is a r.;eans by T.hich the City <br />is reir.:bursed for the costs of scheduled service provided in accordance <br />with the City's agree~ent with RTr~. The syster.; prescribes the procedures <br />for charging or allocatint direct and indirect costs to specific types <br />of service (e.g., scheduled service, charter service, and school bus <br />service}. <br />The cost rei~:~burse.,,ent system is predicated on the maintenance, <br />by the City, of current, accurate, complete, and auditable financial and <br />statistical records to support the costs charged and allocated to the <br />types of service, The records are to be mai;pained on a current basis, <br />applied Consistently from one period to another, and in accordance with ~,_~,_ <br />accepted accounting principles. :~o changes are prescribed in the chart <br />of accounts or the accounting methods of the City. <br />The cost reimbursetient system presu:~:es that all sitnificant <br />costs can be recognized and charted directly or allocated to the proper <br />type of .service on a reaso::able ~,nd ecuitable basis. Ho',:evor, frog time <br />to tir.:e minor iter.~s of cost r.zither specifically detailed in the syste <br />as allowable costs nor precluded as non-allowable costs ray be incurred. <br />tJhen such costs are incurred, the ,et'r;od for treatint them should be <br />approved by RT~~. <br />Policy Guidelines <br />The cust reicbursement s}•ste:~ is based on principles which <br />pTOV2Gc? that E<tC:l t:'pe UT SeTViCe bears I.tS fulr SnaT~ O~ COSCS, e:•:Cept <br />where restricted or prohibited by law or contracturl atr~c~;ent. <br />