Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations or the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
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 Access Youth Academy under programs of the federal government for the year ended June 30, 2024. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Access Youth Academy, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Access Youth Academy.
Title: Grant Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations or the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THE FOLLOWING IS THE ACTIVITY OF THE GRANTS FOR THE YEAR ENDED JUNE 30, 2024: ASSISTANCE LISTING NUMBER 14.218, PROGRAM NAME: COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS, GRANTS OUTSTANDING AT JUNE 30, 2023: $5,490,305, GRANTS AWARDED FOR THE YEAR ENDED JUNE 30, 2024: $0, GRANT PRINCIPAL REPAID FOR THE YEAR ENDED JUNE 30, 2024: $0, GRANTS OUTSTANDING JUNE 30, 2024: $5,490,305