Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual 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.
De Minimis Rate Used: N
Rate Explanation: The YMCA has been assigned an indirect cost rate by its cognizant agency. Accordingly, the de minimis indirect cost rate of 10% was not elected.
The accompanying schedules of expenditures of federal, state and local awards (the "Schedules") include the federal, state and local grant activity of the YMCA of San Diego County (the "YMCA") under programs of the federal, state and local governments for the year ended June 30, 2023. The information in the Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"), and the requirements of the California Department of Social Services Audit Guide. Because the Schedules present only a selected portion of the operations of the YMCA, they are not intended to and do not present the financial position, changes in net assets, or cash flows of the YMCA.
Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual 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.
De Minimis Rate Used: N
Rate Explanation: The YMCA has been assigned an indirect cost rate by its cognizant agency. Accordingly, the de minimis indirect cost rate of 10% was not elected.
Expenditures reported on the Schedules are reported on the accrual 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.
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual 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.
De Minimis Rate Used: N
Rate Explanation: The YMCA has been assigned an indirect cost rate by its cognizant agency. Accordingly, the de minimis indirect cost rate of 10% was not elected.
The YMCA has been assigned an indirect cost rate by its cognizant agency. Accordingly, the de minimis indirect cost rate of 10% was not elected.