Title: OPERATING PERIOD AUDITED
Accounting Policies: All federal awards expended by YWCA of Annapolis and Anne Arundel County, Maryland, Inc. (YWCA) were included in the scope of the Uniform Guidance. The Single Audit was conducted in accordance with the provisions of the OMB’s Compliance Supplement. The Single Audit fulfills all the federal agencies’ audit requirements, which include financial compliance and the adequacy of internal control. Compliance testing was performed for major federal award programs, which covers approximately 56% of total federal awards program expenditures. The major federal award programs were: Governor's Office of Crime Prevention, Youth, and Victim Services Act, CFDA Number 16.575, and Office on Violence Against Women, Legal Assistance for Victims Program, CFDA Number 16.524 with total expenditures of $445,684.
De Minimis Rate Used: Y
Rate Explanation: During fiscal year 2023, The YWCA elected to use the 10% de minimus cost rate as covered in the 2 CFR § 200.414 Indirect (Facilities & Administration) costs.
Uniform Guidance testing procedures were performed for program transactions occurring during the operating year ended June 30, 2023.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: All federal awards expended by YWCA of Annapolis and Anne Arundel County, Maryland, Inc. (YWCA) were included in the scope of the Uniform Guidance. The Single Audit was conducted in accordance with the provisions of the OMB’s Compliance Supplement. The Single Audit fulfills all the federal agencies’ audit requirements, which include financial compliance and the adequacy of internal control. Compliance testing was performed for major federal award programs, which covers approximately 56% of total federal awards program expenditures. The major federal award programs were: Governor's Office of Crime Prevention, Youth, and Victim Services Act, CFDA Number 16.575, and Office on Violence Against Women, Legal Assistance for Victims Program, CFDA Number 16.524 with total expenditures of $445,684.
De Minimis Rate Used: Y
Rate Explanation: During fiscal year 2023, The YWCA elected to use the 10% de minimus cost rate as covered in the 2 CFR § 200.414 Indirect (Facilities & Administration) costs.
Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of YWCA of Annapolis and Anne Arundel County, Maryland, Inc. under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 YWCA, it is not intended to and does not present the statement of financial position, changes in net assets, or cash flows of the YWCA. Accrued and Deferred Reimbursement - Various grant procedures are used for federal awards received by the YWCA. Consequently, timing differences between expenditures and grant receipts can exist at the beginning and end of the operating period. Accrued balances at year-end represent an excess of reimbursable expenditures over cash receipts to date. Deferred balances at year-end represent excess receipts over reimbursable expenditures to date. Generally, accrued or deferred balances caused by differences in the timing of cash receipts and expenditures will be reversed in the remaining grant period of the subsequent operating fiscal year.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: All federal awards expended by YWCA of Annapolis and Anne Arundel County, Maryland, Inc. (YWCA) were included in the scope of the Uniform Guidance. The Single Audit was conducted in accordance with the provisions of the OMB’s Compliance Supplement. The Single Audit fulfills all the federal agencies’ audit requirements, which include financial compliance and the adequacy of internal control. Compliance testing was performed for major federal award programs, which covers approximately 56% of total federal awards program expenditures. The major federal award programs were: Governor's Office of Crime Prevention, Youth, and Victim Services Act, CFDA Number 16.575, and Office on Violence Against Women, Legal Assistance for Victims Program, CFDA Number 16.524 with total expenditures of $445,684.
De Minimis Rate Used: Y
Rate Explanation: During fiscal year 2023, The YWCA elected to use the 10% de minimus cost rate as covered in the 2 CFR § 200.414 Indirect (Facilities & Administration) costs.
All federal grant expenditures were for the YWCA’s operational purposes and are recognized in the Statement of Activities. The following summary represents the reconciliation of the statement of activities to the schedule of expenditures of federal awards:
Total expenses per Statement of Activities $ 3,684,335
Less: Expenses funded by contributions and other sources 2,891,262
Total expenditures per Schedule of Expenditures of Federal Awards $ 793,073