Title: Basis of Presentation
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the Organization’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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. Disallowances/adjustments: Negative amounts shown on the Schedule of Expenditures of Federal Awards (when applicable) represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Indirect Costs: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Organization must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect. Matching Costs Matching costs (i.e. the Organization’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Youth Environmental Services, Inc. (the “Organization”, a nonprofit organization) as defined in Note (1) to the Organization’s financial statements, under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirement 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the Organization’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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. Disallowances/adjustments: Negative amounts shown on the Schedule of Expenditures of Federal Awards (when applicable) represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Indirect Costs: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Organization must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect. Matching Costs Matching costs (i.e. the Organization’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts reported as federal expenditures were obtained from the federal financial
reports for the applicable program and periods. The amounts included in these reports are
prepared from records maintained for each program, which are reconciled with the
Organization’s financial reporting system. These records are periodically reconciled to the
general ledger which is the source of the general purpose financial statements. 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. Disallowances/adjustments
Negative amounts shown on the Schedule of Expenditures of Federal Awards (when
applicable) represent adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years.
Indirect Costs
Indirect costs are included in the reported expenditures to the extent they are included in
the federal financial reports used as the source of the data presented. Under the Uniform
Guidance, absent an agreed upon indirect cost rate, the Organization must elect to use
the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There
is no other indirect cost allocation plan in effect.
Matching Costs
Matching costs (i.e. the Organization’s share of certain program costs) are not included in
the reported expenditures.
Title: Other Disclosures
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the Organization’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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. Disallowances/adjustments: Negative amounts shown on the Schedule of Expenditures of Federal Awards (when applicable) represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Indirect Costs: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Organization must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect. Matching Costs Matching costs (i.e. the Organization’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by the Organization’s casualty insurance policies. There were no loans or loan guarantees outstanding at year end.
Title: Major Program Determination
Accounting Policies: The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts included in these reports are prepared from records maintained for each program, which are reconciled with the Organization’s financial reporting system. These records are periodically reconciled to the general ledger which is the source of the general purpose financial statements. 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. Disallowances/adjustments: Negative amounts shown on the Schedule of Expenditures of Federal Awards (when applicable) represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Indirect Costs: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source of the data presented. Under the Uniform Guidance, absent an agreed upon indirect cost rate, the Organization must elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. There is no other indirect cost allocation plan in effect. Matching Costs Matching costs (i.e. the Organization’s share of certain program costs) are not included in the reported expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization was deemed not to be a “low-risk auditee”, therefore, major programs
were determined based on 40% of total federal award expenditures.