Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Young Women’s Christian Association of Kalamazoo, Michigan (the Organization) and is presented on the accrual basis of accounting and 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). In addition, expenditures reported on the schedule are recognized following the federal cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
The Organization has elected to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.
All subsequent events related to the Schedule of Expenditures of Federal Awards, were evaluated through September 23, 2026, the date the accompanying reports were available to be issued. No significant event was noted that required adjustment or disclosure in the report.