Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of The YWCA of Brooklyn, Inc. for the year ended December 31, 2024. The information in the 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 The YWCA of Brooklyn, Inc., it is not intended to nor does it present the financial position, changes in net assets or cash flows of The YWCA of Brooklyn, Inc.
Expenditures reported on 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 limited as to reimbursement.
The Home Grant Loan compliance period began on March 24, 2017 and will expire on the 15th year (March 24, 2032). The loan balance outstanding as of the beginning of the year is included in the federal expenditures presented on the Schedule. The balance of the loan outstanding as of December 31, 2024 amounted to $2,650,000.
The YWCA of Brooklyn, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.