Title: Note 1. Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 2. Reconciliation of Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
Total Federal Financial Assistance $ 59,399,739 CDBG Forgivable loans passed through the City (1,580,786) HOME Investment Partnership Program (603,926) Local and State funding financial assistance 938,057 Total funded services $58,153,084
Title: Note 3. Contingencies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The entity had in effect for the fiscal year ended August 31, 2023, the following insurance coverage: Property $26,370,696 Officers and Directors 2,000,000 General Liability 1,000,000/3,000,000
Title: Note 4. HOME Investment Partnership Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The awarded amount of $370,000 from the U.S. Department of Housing and Urban Development is a grant note payable to the YWCA Community Development Corporation (related party), which was assumed by the Association, over thirty years in monthly installments beginning February 2008 that will be forgiven monthly as long as the Association is in compliance with grant terms. The awarded amount of $352,000 from the U.S. Department of Housing and Urban Development is a loan note payable to the YWCA Community Development Corporation (related party), which was assumed by the Association, over thirty years in monthly installments at zero interest rate beginning February 2008 as long as the Association is in compliance with loan terms. On September 1, 2013, the YWCA Community Development Corporation dissolved and terminated the Corporation and the Association accepted the Corporation’s assets on its dissolution and assumed its liabilities, contractual obligations and grants of the Corporation.
Title: Note 5. Community Development Block Grant Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The awarded amount of $161,596 from the U.S. Department of Housing and Urban Development that was passed through the City of El Paso as forgivable loan is forgiven in May 2022 and grant revenue for the full amount of the forgivable loan was recognized. (see Note 10). The awarded amount of $1,473,166 from the U.S. Department of Housing and Urban Development that was passed through the City of El Paso is a loan note payable to the YWCA made in June 5, 2020. The full amount of the loan, $1,473,166, was drawn on the note as of August 31, 2023. (see Note 10) The awarded amount of $1,387,949 from the U.S. Department of Housing and Urban Development that was passed through the City of El Paso is a loan note payable to the YWCA made in March 10, 2022. The amount of $107,620 was drawn on the note as of August 31, 2023. (see Note 10).
Title: Note 6. 10% de minimus Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women’s Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The Association did not elect to use the allowed 10% indirect cost rate.