Audit 39707

Title: Subrecipeients Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of YMCA of Greater Louisville, Inc. (YMCA) and Affiliates under programs of the federal government for the year ended December 31, 2022. 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 YMCA and Affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the YMCA and Affiliates. Summary of Significant Accounting Policies 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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The YMCA and Affiliates provided no federal funding to subrecipients for the year ended December 31, 2022.