Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal awards activity of Youth Co-Op, Inc. under programs for the federal government for the year ended June 30, 2025. 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).
1) 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 are limited as to reimbursement. 2) Youth Co-Op, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended June 30, 2025, audits were performed by South Florida Workforce Investment Board (SFWIB), Miami-Dade County, the United States Committee of Refugees and Immigrants (USCRI) and the Department of Children and Families (DCF) of YCI’s administration of federal awards. While these agencies identified findings, observations and recommendations on its monitoring reports, none were determined to be significant. YCI replied with a plan of corrective action, which was accepted by the agencies.