Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Young Mens Christian Association of Central Maryland, Inc. (the Association) under programs of the federal government for the year ended December 31, 2022. 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 the Association, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Association.There are no amounts passed through to subrecipients for the year ended December 31, 2022.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 expenditures are not allowable or are limited to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The Association has elected not to use the 10% de minimis indirect cost rate as allowed under theUniform Guidance. The Association applied for and received a federally approved indirect cost rate of17.30%.