Title: Loan/Loan Guarantee Outstanding Balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending The YMCA of Florida's First Coast and Subsidiaries (the “Organization”) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year ended September 30, 2024, the Organization did not elect to use this rate.
The Organization did not have any federal loans or loan guarantees outstanding during the year ended September 30, 2024.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending The YMCA of Florida's First Coast and Subsidiaries (the “Organization”) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year ended September 30, 2024, the Organization did not elect to use this rate.
During the year ended September 30, 2024, the Organization had no subrecipients.
Title: Noncash Assistance and Other
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending The YMCA of Florida's First Coast and Subsidiaries (the “Organization”) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year ended September 30, 2024, the Organization did not elect to use this rate.
The Organization did not receive any noncash assistance during the year ended September 30, 2024.
Title: Contingencies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending The YMCA of Florida's First Coast and Subsidiaries (the “Organization”) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year ended September 30, 2024, the Organization did not elect to use this rate.
Grant monies received and disbursed by the Organization are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Organization does not believe that such disallowance, if any, would have a material effect on the financial position of the Organization.
Title: Federal Pass-Through Entities
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending The YMCA of Florida's First Coast and Subsidiaries (the “Organization”) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year ended September 30, 2024, the Organization did not elect to use this rate.
The Organization is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through are considered to be direct.
Title: Relationship of the Schedule to Program Financial Reports
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal spending The YMCA of Florida's First Coast and Subsidiaries (the “Organization”) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not represent the financial position of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year ended September 30, 2024, the Organization did not elect to use this rate.
The amounts reflected in the financial reports submitted to the awarding federal, state and/or pass-through agencies and the Schedule may differ. Some of the factors that may account for any differences include the following: The Organization’s fiscal year end may differ from the program’s year end. Accruals recognized in the Schedule, because of year end procedures, may not be reported in the program financial reports until the next program reporting period. Fixed asset purchases and the resultant depreciation charges are recognized as fixed assets in the Organization’s financial statements and as expenditures in the program financial reports and the Schedule.