Notes to SEFA
The above schedule of expenditures of federal awards includes the federal grant activity of the Association and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the 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.
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.
In accordance with the 2024 Uniform Guidance revisions, a 10 percent de minimus indirect cost rate may be applied to federal awards issued prior to October 1, 2024. For new awards or amendments executed on or after October 1, 2024, a 15 percent de minimus indirect cost rate may be applied. The YWCA Monterey County elected not to use the 10 or 15 percent de minimus indirect cost rate allowed under the Uniform Guidance.