Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Men’s Christian Association of Honolulu (the Association). The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulation 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 preparation of, the financial statements.
The accompanying schedule is prepared on the accrual basis of accounting.
Amounts reported in the accompanying schedule agree in all material respects with the amounts reported in the related federal financial reports.
The Association did not expend any federal funds to support loan programs or loan guarantee programs. The Association does not have federal loan balances as of December 31, 2024.
The Association did not elect to use the 10% de minimis indirect cost rate as discussed in the Uniform Guidance Section 200.414.