Title: NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the
cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: NOTE 2 INDIRECT COST RATE
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
Title: NOTE 3 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
The accompanying schedule includes the federal award activity of YWCA Cass Clay under programs of the federal government for the year ended December 31, 2023. The information 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). Because the schedule presents only a selected portion of the operations of YWCA Cass Clay, it is not intended to and does not present the financial position, changes in net assets, or cash flows of YWCA Cass Clay.
Title: NOTE 4 LOANS OUTSTANDING
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
The calculation of federal expenditures includes the beginning of year loan balances and new funds drawn. The calculation of total federal expenditures for each program are as follows:
Balance of loans payable at January 1, 2023 $ 325,549 $ 3,302,017 $ - Funds drawn 1,915,540 735,650 396,914 Total expenditures of federal awards $ 2,241,089 $ 4,037,667 $ 396,914 HOME -
Housing Trust Fund Program HOME American Rescue Plan Program
The loan balances outstanding for each program as of December 31, 2023 are $434,360 for the Housing Trust Fund, $2,028,761 for the HOME Program, and $193,904 for the HOME – American Rescue Plan Program.
Title: NOTE 5 FINANCIAL STATEMENT RECONCILIATION
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
Government grant revenue per the consolidated statement of activities for the year ended December 31, 2023 has been reconciled to the total federal expenditures per the schedule as follows:
Government grants $ 1,121,654
Less non-federal grants (143,844)
Total federal grants 977,810
Housing Trust Fund loan 2,241,089
HOME loan 4,037,667
HOME ARP loan 396,914
Total $ 7,653,480
Total federal expenditures on SEFA $ 7,653,480
Title: NOTE 6 EMPLOYER IDENTIFICATION NUMBERS
Accounting Policies: Expenditures reported in the schedule of expenditures of federal awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: YWCA Cass Clay has not elected to use the 10% de minimis cost rate.
The accompanying Schedule includes the activities of YWCA Cass Clay, EIN #45-0226435, Lantern Light, LLC, EIN #87-2258273, and Cove Lane, LLC, EIN #92-2971789.