Title: Basis of Presentation
Accounting Policies: The SEFA is presented using the accrual basis of accounting. Expenditures are recognized following the cost principle contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the Audit Guide issued by the California Department of Education and California Department of Social Services. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. Because the Schedule presents only a selected portion of the operations of YMCA of Greater Long Beach, it is not intended to, and does not, present the financial position, changes in net assets, functional expenses, or cash flows of YMCA of Greater Long Beach's reporting entity is defined in Note 1 to the financial statements. All federal and state awards are included in the Schedule.
Title: Summary of Significant Accounting Policies
Accounting Policies: The SEFA is presented using the accrual basis of accounting. Expenditures are recognized following the cost principle contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The accompanying Schedule is presented using the accrual basis of accounting, whereby eligible grant expenditures are recorded when incurred (i.e., when goods are received or services provided). Such expenditures are recognized following the cost principles in Subpart E of Title 2 U.S CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or limited as to reimbursement. Expenditures reported include any property or equipment acquisitions incurred under federal programs: Pass-through identifying numbers are presented where available.
Title: Relationship to Federal, State, County, and City awards Reports
Accounting Policies: The SEFA is presented using the accrual basis of accounting. Expenditures are recognized following the cost principle contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
Amounts reported in the Schedule of Expenditure of Federal Awards agree with the amounts reported in the related federal, state, county, and city financial reports for all major federal, state, county, and city programs.
Title: Indirect Costs
Accounting Policies: The SEFA is presented using the accrual basis of accounting. Expenditures are recognized following the cost principle contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
Young Men's Christian Association of Greater Long Beach has elected to use the 10% de minimis cost rate for the federal awards.
Title: Subrecipients
Accounting Policies: The SEFA is presented using the accrual basis of accounting. Expenditures are recognized following the cost principle contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate as allowed per Section 414 of the Uniform Guidance.
The Organization did not provide federal awards to subrecipients.