Audit 230

Title: Note 3: Subrecipient Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Youth Opportunities Unlimited (the “Organization”) under programs of the federal government for the year ended March 31, 2023. 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 the Organization, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of the Organization. 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: The Organization has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization 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, the Organization reports expenditures of federal awards to the subrecipient on the accrual basis. The Organization 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.