Notes to SEFA
Title: Basis of Presentation
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate - The Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Young Men’s Christian Association of Anaheim (the “Association”) under programs of the federal government for the year ended June 30, 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. Because the Schedule presents only a selected portion of the operations of the Association, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Association.
Title: Summary of Significant Accounting Policies
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate - The Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting for governmental funds and the accrual basis for proprietary funds, which is described in Note 1 of the notes to the Association’s financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
Title: Indirect Cost Rate
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: Indirect Cost Rate - The Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.