Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for nonprofit organizations, wherein certain types of expenditures are not allowable or are limited as in reimbursement
De Minimis Rate Used: N
Rate Explanation: California Young World, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal and state awards (the "Schedule") includes the federal grant activity of California Young World, 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 requirements of the Title 2 U.C. 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 California Young World, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of California Young World, Inc. Pass through entity identifying numbers are presented when available.
Title: Note B - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for nonprofit organizations, wherein certain types of expenditures are not allowable or are limited as in reimbursement
De Minimis Rate Used: N
Rate Explanation: California Young World, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for nonprofit organizations, wherein certain types of expenditures are not allowable or are limited as in reimbursement.
Title: Note C - Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for nonprofit organizations, wherein certain types of expenditures are not allowable or are limited as in reimbursement
De Minimis Rate Used: N
Rate Explanation: California Young World, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance
California Young World, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance