Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal and state awards include the federal and state grant activity of YCS System, Inc. and Member Organizations (the Organization) under programs of federal and state governments for the year ended June 30, 2023. The information in the schedule of expenditures of federal awards 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) and the New Jersey Office of Management and Budget (NJ OMB) Circular Letter 15-08. Therefore, some amounts presented in this schedule may differ in amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the ten percent de-minimis cost rate.
During the year ended June 30, 2023, the Organization did not provide any funds relating to their federal and state programs to subrecipients.
Title: LOAN AND LOAN GUARANTEE PROGRAMS
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal and state awards include the federal and state grant activity of YCS System, Inc. and Member Organizations (the Organization) under programs of federal and state governments for the year ended June 30, 2023. The information in the schedule of expenditures of federal awards 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) and the New Jersey Office of Management and Budget (NJ OMB) Circular Letter 15-08. Therefore, some amounts presented in this schedule may differ in amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the ten percent de-minimis cost rate.
As of June 30, 2023, the Organization did not have any loan or loan guarantee programs.