Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women's Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 112614. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 107040. Community Development Block Grants/Entitlement Grant (14.218) - Balances outstanding at the end of the audit period were 1473166. Community Development Block Grants/Entitlement Grant (14.218) - Balances outstanding at the end of the audit period were 12278.
Title: Note 3: Contingencies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women's Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The entity had in effect for the fiscal year ended August 31, 2022, the following insurance coverage: Property $25,164,358, Officers and Directors $2,000,000 and General Liability $1,000,000/3,000,000.
Title: Note 2: Reconciliation of Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women's Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
Total federal financial assistance $43,663,272 HUD Forgivable loan passed through the city 161,596 HOME Investment Partnership and CDBG (2,100,333) Local and state funding financial assistance 2,569,760 Total funded services $44,293,760
Title: Note 4: HOME Investment Partnership Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women's Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The awarded amount of $370,000 from the U.S. Department of Housing and Urban Development is a grant note payable to the YWCA Community Development Corporation (related party), which was assumed by the Association, over thirty years in monthly installments beginning February 2008 that will be forgiven monthly as long as the Association is in compliance with grant terms. The awarded amount of $352,000 from the U.S. Department of Housing and Urban Development is a loan note payable to the YWCA Community Development Corporation (related party), which was assumed by the Association, over thirty years in monthly installments at zero interest rate beginning February 2008 as long as the Association is in compliance with loan terms. On September 1, 2013, the YWCA Community Development Corporation dissolved and terminated the Corporation, and the Association accepted the Corporations assets on its dissolution and assumed its liabilities, contractual obligations, and grants of the Corporation.
Title: Note 5: Community Development Grant Porgram
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Young Women's Christian Association El Paso Del Norte Region (the Association) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the audit 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect to use the allowed 10% indirect cost rate.
The awarded amount of $161,596 from the U.S. Department of Housing and Urban Development that was passed through the City of El Paso as forgivable loan is forgiven in May 2022 and grant revenue for the full amount of the forgivable loan was recognized. (see Note 10). The awarded amount of $1,314,538 from the U.S. Department of Housing and Urban Development that was passed through the City of El Paso is a loan note payable to the YWCA made in June 5, 2020 (see Note 10). The awarded amount of $12,278 from the U.S. Department of Housing and Urban Development that was passed through the City of El Paso is a loan note payable to the YWCA made in March 10, 2022 (see Note 10).