Audit 21771

Title: Subrecipient Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Youth Opportunities Unlimited (Y.O.U.) under programs of the federal government for the year ended March 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Y.O.U., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Y.O.U. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: Y.O.U. has elected to use the 10 percent de minimis indirect cost rate as allowed under the UniformGuidance. Y.O.U. passes a portion of its federal awards received from the U.S. Department of Health and Human Services to another not-for-profit agency. As described in Note 1, Y.O.U. reports expenditures of federal awards to the subrecipient on the accrual basis. Y.O.U. has established a policy of accruing any expenditures related to requests for reimbursements received from the subrecipient within 45 days of the end of its fiscal year. As a pass-through entity, Y.O.U. has certain compliance responsibilities, such as monitoring its subrecipient to help assure they use the subaward as authorized and in accordance with law, regulations, and the provisions of contracts or grant agreements, and that the subrecipient achieve the award's performance goals.