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ITEM � - ELIGIBLE OPERATING EXPENSES <br /> Eliaible operating expenses consist of the follo�ving: <br /> (a) employee wages and benefits; <br /> ' (b) materials, fuels and supplies; <br /> . <br /> (c) rental of facilities; <br /> (d) taYes other than income taxes; <br /> (e) payment for debt service (including principal and interest) on equipment or <br /> facilities owned by Grantee; . <br /> (fl equipment purchases which do not exceed ��,000; <br /> (a) administrative costs associated with capital projects which are not reimbursed <br /> elsewhere; <br /> (h) repairs to buildings, equipment or vehicles which do not extend the useful life <br /> of same; <br /> (i) reasonable expenses and compensation for Grantee's boazd members or trustees; <br /> and <br /> (j) any other expenditure which the Department determines is an eligible operating <br /> expense according to generally accepted standazd accounting practices for <br /> public transportation operations. <br /> ITEM 6 INELIGIBLE OPERATING EXPENSES <br /> Ineligible operating eYpenses include: . <br /> (a) depreciation; <br /> (b) amortization or depreciation of any intangible assets; <br /> (c) debt service on capital assets acquired with the assistance of capital grant funds <br /> provided by the State; <br /> (d) profit or return on investments; <br /> (e) � excessive payments to associated entities; <br /> (fl any expense eligible for federal funding under a capital assistance program; <br /> (g) costs reimbursed under Sections 6 or 8 of the Federal Transit Act, as amended <br /> (49 App. U.S.C.A. Sections 1605 and 16.07) or under any other federal, state or <br /> local program; <br /> . . . 3 . . . . <br />