Notes to SEFA
The accompanying schedule of federal awards (the Schedule) includes the federal award activity of Families and Youth, Incorporated under programs of the federal government for the year ended September 30, 2025. The information in the Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The Schedule presentes only a selected portion of the operations of Families and Youth, Incorporated, it is not intended to and does no present the financial postion, changes in net assets, or cash flows of Families and Youth, Incorporated
(1) Expenditures, reported on the Schedule are reported on the accural 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) Families and Youth, Incorporated has elected not to use the 15% de minimis indirect cost rate as allowed under Uniform Guidance. (3) Reconciliation of Schedule of Expenditures of Federal Awards to the Financial Statements: Total federal awards expensed per schedule of expenditures of federal awards $6,501,902. Federal funds, as shown on page 6 $6,501,902, Difference -0-.