COMBINED FINANCIAL STATEMENTS AND REPORTS AND SCHEDULES REQUIRED BY OMB CIRCULAR A-133
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Young Women's Christian Association
of Tampa Bay, Inc. And Affiliate
Combined Financial Statements
And Reports And Schedules
Required By OMB Circular A-133
September 30, 2004 And 2003
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Table Of Contents
Page No.
Report Of Independent Certified Public Accountants
3
Combined financial statements
Combined Statements Of Financial Position
4
Combined Statements Of Activities and Change in Net Assets
5-6
Combined Statements Of Functional Expenses
7-8
Combined Statements Of Cash Flows
9
Notes To Combined Financial Statements
10-14
Report Of Independent Certified Public Accountants On Supplementary Information
15
Schedules Of Revenue And Expenses By Program
16-17
Schedule Of Expenditures Of Federal Awards
18
Notes To Schedule Of Expenditures Of Federal Awards
19
Report Of Independent Certified Public Accountants On Compliance And On Internal Control
Over Financial Reporting Based On An Audit Of Financial Statements Performed In
Accordance With Government Auditing Standards
20
Report Of Independent Certified Public Accountants On Compliance With Requirements
Applicable To Each Major Program And On Internal Control Over Compliance In
Accordance With OMB Circular A-133
21-22
Schedule Of Findings And Questioned Costs
23
Summary Schedule Of Prior Year's Audit Findings
24
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(~\,
Gregory Sharer & Stuart, PA.
Richard H. Caton, CPA
M. Timothy Farrell, CPA
Thomas H. Gregory, CPA
Jeffrey P. McClanathan, CPA
James G. Newman, CPA
Paula D. Popovich, CPA
Larry W. Sharer, CPA
Byron C. Smith, CPA
Charles L. Stuart, CPA
Richard G. Ulrich, CPA
Report Of Independent Certified Public Accountants
To The Board of Directors
Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
St. Petersburg, Florida
We have audited the accompanying combined statement of fmancial position of Young Women's Christian Association of Tampa
Bay, Inc. and its affiliate, YWCA of Tampa Bay Foundation, Inc. (Foundation), (collectively, the Organization) as of
September 30, 2004, and the related combined statements of activities and change in net assets, functional expenses, and cash
flows for the year then ended. These financial statements are the responsibility of the Organization's management. Our
responsibility is to express an opinion on these financial statements based on our audit. The fmandal statements as of
September 30, 2003 were audited by other auditors whose report dated December 10, 2003 expressed an unqualified opinion on
those statements.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the
standards applicable to fmancial audits contained in Government Auditing Standards, issued by the Comptroller General of the
United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
fmancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the combined fmandal statements. An audit also includes assessing the accounting principles used
and significant estimates made by management, as well as evaluating the overall combined fmandal statement presentation. We
believe that our audit provides a reasonable basis for our opinion.
In our opinion, the combined fmancial statements referred to above present fairly, in all material respects, the financial position
of the Organization as of September 30, 2004, and the changes in its net assets and its cash flows for the year then ended in
conformity with accounting principles generally accepted in the United States of America.
In accordance with Government Auditing Standards, we have also issued a report dated December 17, 2004 on our consideration
of the Organization's internal control over fmancial reporting and our tests of its compliance with certain provisions of laws,
regulations, contracts, and grants. That report is an integral part of an audit performed in accordance with Government Auditing
Standards and should be read in conjunction with this report in considering the results of our audit.
Gregory, Sharer & Stuart, P .A.
P~~~~I~.Pr.
St. Petersburg, Florida
December 17, 2004
CERTIFIED PuBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS
100 Second Avenue South · Suite 600 · St. Petersburg, Florida 33701-4336
727/821-6161 FAX 727/822-4573
www.gsscpa.com
I Young Women I s Christian Association Of Tampa Bay, Inc. And Affiliate
I Combined Statements Of Financial Position
I September 30,
2004 2003
Assets
I Cash $ 62,260 $ 93,473
Grants and fees receivable 407,950 382,890
I Promises to give 86,207 35,615
Prepaid expenses and other 6,318 10,767
Investments 418,028 366,760
I Receivable from remainder trust 47,635 56,703
Land lease receivable 512,351 613,866
Property and equipment,
I net of accumulated depreciation 2,697 ,181 2,762,800
Beneficial interest in perpetual trust 128,359 125,082
Total Assets $ 4,366,289 $ 4,447,956
I Liabilities And Net Assets
I Liabilities
Accounts payable $ 105,025 $ 63,900
Accrued salaries and related expenses 262,547 327,859
I Refundable advance 34,747 18,039
Notes payable 495,602 500.000
Total Liabilities 897,921 909,798
I Net Assets
Unrestricted
I Undesignated 93,715 53,879
Net investment in property and equipment 2,501,579 2,562,800
2,595,294 2,616,679
I Temporarily restricted 664,501 716,183
Permanently restricted 208,573 205,296
Total Net Assets 3,468,368 3.538,158
I Total Liabilities And Net Assets $ 4,366,289 $ 4,447,956
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I See the accompanying notes. Page 4
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Young Women I s Christian Association Of Tampa Bay, Inc. And Affiliate
Combined Statement Of Activities And Change In Net Assets I
For The Year Ended September 30,2004
Temporarily Permanently I
Unrestricted Restricted Restricted Total
Public Support And Revenue I
Contributions $ 68,074 $ 50,232 $ $ 118,306
In-kind contributions - services and other 206,769 206,769
United Way 111,029 35,975 147,004 I
Special events, net 9,691 9,691
Net assets released from restriction 147,130 (147,130)
Total Public Support 542,693 (60,923) 481,770 I
Revenue
Grants 2,288,655 18,309 2,306,964
Coordinated Child Care 715,607 715,607 I
Juvenile Welfare Board 1,040,690 1,040,690
Child care revenues 677 ,987 677,987
Change in value of split-interest agreement (9,068) (9,068) I
Investment income 47,811 3,277 51,088
Miscellaneous 38,098 38,098
Total Revenue 4,808,848 9,241 3,277 4,821,366 I
Total Public Support And Revenue 5,351,541 (51,682) 3,277 5,303,136
Expenses I
Program Services
Adolescent Pregnancy and Parenting 554,527 554,527 I
Family Village 970,274 970,274
Community Outreach 1,684,236 1,684,236
Child Care 1,428,005 1,428,005
Total Program Services 4,637,042 4,637,042 I
Supporting Services
Management and general 612,700 612,700 I
Fundraising 91,184 91,184
Payments to affiliated organization 32,000 32,000
Total Supporting Services 735,884 735,884 I
Total Expenses 5,372,926 5,372,926
Change In Net Assets (21,385) (51,682) 3,277 (69,790) I
Net Assets At Beginning Of Year 2,616,679 716,183 205,296 3,538,158
Net Assets At End Of Year $ 2,595,294 $ 664,501 $ 208,573 $ 3,468,368 I
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See the accompanying notes. Page 5 I
I
Young Women's Christian Association Of Tampa Bay, Inc. And AffIliate
I Combined Statement Of Activities And Change In Net Assets
For The Year Ended September 30, 2003
I Temporarily Permanently
Unrestricted Restricted Restricted Total
I Public Support And Revenue
Contributions $ 76,715 $ 10,000 $ $ 86,715
In-kind contributions - services and other 201,583 201,583
I United Way 137,212 35,614 172,826
Special events, net 9,829 9,829
Net assets released from restriction 301,002 (301,002)
I Total Public Support 726,341 (255,388) 470,953
Revenue
I Grants 1,967,236 1,967,236
Coordinated Child Care 638,686 638,686
Juvenile Welfare Board 831,454 831,454
Child care revenues 571,858 571,858
I Change in value of split-interest agreement 4,268 4,268
Investment income 43,503 9,492 52,995
Miscellaneous 16,614 16,614
I Total Revenue 4,069,351 4,268 9,492 4,083,111
Total Public Support And Revenue 4,795,692 (251,120) 9,492 4,554,064
I Expenses
Program Services
I Adolescent Pregnancy and Parenting 577 ,391 577 ,391
Family Village 950,144 950,144
Community Outreach 1,526,712 1,526,712
Child Care 1,273,927 1,273,927
I Total Program Services 4,328,174 4,328,174
Supporting Services
I Management and general 441,710 441,710
Fundraising 88,564 88,564
Payments to affiliated organization 32,000 32,000
I Total Supporting Services 562,274 562,274
Total Expenses 4,890,448 4,890,448
I Change In Net Assets (94,756) (251,120) 9,492 (336,384)
Net Assets At Beginning Of Year 2,711,435 967,303 195,804 3,874,542
I Net Assets At End Of Year $ 2,616,679 $ 716,183 $ 205,296 $ 3,538,158
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I See the accompanying notes. Page 6
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I Young Women's Christian Association Of Tampa Bay, Inc. And AffIliate
I Combined Statements Of Cash Flows
I Year Ended September 30,
2004 2003
Cash Flows From Operating Activities
Change in net assets $ (69,790) $ (336,384)
I Adjustments to reconcile change in net assets to
net cash provided by operating activities
Gain on investments (22,122) (24,275)
I Change in value of split interest agreement 9,068 (4,268)
Depreciation 133,672 113,303
Decrease (increase) in operating assets
I Bequests receivable 482,052
Grants and fees receivable (25,060) (136,708)
Promises to give (50,592) 129,812
I Prepaid expenses and other 4,449 2,249
Land lease receivable 101,515 101,515
Increase (decrease) in operating liabilities
Accounts payable 41,125 8,554
I Accrued salaries and related expenses (65,312) 9,655
Refundable advance 16,708 (65,442)
Net Cash Provided By Operating Activities 73,661 280,063
I Cash Flows From Investing Activities
Purchases of investments (173,971) (11,441)
I Proceeds from sales of investments 141,548 175,025
Purchases of property and equipment (68,053) (742,393)
Net Cash Used By Investing Activities (100,476) (578,809)
I Cash Flows From Financing Activities
Proceeds from note payable 200,000
Payments on note payable (4,398)
I Net Cash (Used) Provided By Investing Activities (4,398) 200,000
Decrease In Cash (31,213) (98,746)
I Cash At Beginning Of Year 93,473 192,219
I Cash At End Of Year $ 62,260 $ 93,473
I Supplemental Disclosure
Cash paid for interest $ 15,097 $
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I See the accompanying notes. Page 9
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Notes To Combined Financial Statements
September 30, 2004 And 2003
Note A - Organization And Purpose And
Summary Of Significant Accounting Policies
Organization And purpose
Young Women's Christian Association of Tampa Bay, Inc.
(the YWCA) and its affiliate, YWCA of Tampa Bay
Foundation, Inc. (the Foundation), (collectively, the
Organization) are organized for the purpose of providing
charitable education and services, childcare, and housing
assistance to individuals within Pinellas County, Florida.
Principles Of Combination
The accompanying combined financial statements include
the financial statements of the YWCA and the Foundation.
All significant inter-organization accounts and transactions
have been eliminated in combination.
Income Taxes
The YWCA is exempt from federal income tax under
Section 501(c)(3) of the Internal Revenue Code and state
income tax under Chapter 220.13 of the Florida Statutes.
The Internal Revenue Service has determined that the
YWCA not to be a private foundation and contributions to
it qualify as charitable contribution deductions.
The Foundation is a Florida not-for-profit corporation
organized to support the Organization. The YWCA and
Foundation are fmancially interrelated. The Foundation is
exempt from federal income taxes under section 50l(c)(3)
of the Internal Revenue Code and has been determined not
to be a private foundation.
Programs
Adolescent Pregnancy and Parenting - Enhances self-
sufficiency by providing community-wide, comprehensive
services in the areas of health, education, prevention, life
skills and counseling to adolescents, young adults and their
children.
Family Village - Provides short term temporary affordable
housing, counseling and support services for homeless
families, and a child development center to serve the needs
of the families in the housing program.
Community Outreach - Assists targeted families through a
comprehensive healthy families support initiative.
Child Care - Provides public and teen parent childcare.
Financial Statement Presentation
The Organization reports information regarding its financial
position and activities based on the existence or absence of
donor-imposed restrictions in accordance with Financial
Accounting Standards Board Statement of Financial
Accounting Standards (SFAS) No. 117, Financial
Statements of Not-for-Profit Organizations. Accordingly,
the Organization has classified its net assets and changes
therein as unrestricted (net assets that are not subject to
donor-imposed stipulations) and permanently or temporarily
restricted net assets, as required.
In accordance with SFAS No. 117, special event revenue is
shown net of the cost of the direct benefit to donors.
Restricted And Unrestricted Contributions
The Organization accounts for contributions in accordance
with SFAS No. 116, Accounting for Contributions Received
and Contributions Made. Accordingly, contributions
received are recorded as unrestricted, temporarily
restricted, or permanently restricted support depending on
the existence and/or nature of any donor restrictions.
Contributions that are restricted by the donor are reported
as an increase in unrestricted net assets if the restriction
expires in the reporting period in which the contributions
are received.
All other donor-restricted contributions are reported as an
increase in temporarily or permanently restricted net assets,
depending on the nature of the restriction.
When a restriction expires (that is, when a stipulated time
restriction ends or the purpose of the restriction is
accomplished), temporarily restricted contributions are
reclassified and reported in the statements of activities as
net assets released from restrictions.
Contributions are recognized at their present value when a
donor makes a contribution. In accordance with SFAS No.
116, unconditional promises to give are recognized as
revenues in the period received. Conditional promises to
give are recognized when the conditions on which they
depend are substantially met.
Page 10
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Notes To Combined Financial Statements
September 30, 2004 And 2003
Federal, state, and local government and other public
grants are recognized as support when performance occurs
pursuant to the contract agreement.
Investments
The Organization adopted SFAS No. 124, Accounting for
Certain investments Held by Not-For-Profit Organizations.
In accordance with SFAS No. 124, investments in equity
securities with readily determinable fair values and all
investments in debt securities are carried at their fair values
in the Organization's balance sheet. Unrealized gains and
losses are included in the change in net assets. Restrictions
on investment earnings are reported as increases in
unrestricted net assets if the restrictions expire in the fiscal
year in which the earnings are recognized.
Investment return for the years ended September 30, 2004
and 2003 is presented in the accompanying statements of
activities and change in net assets for the years then ended
as either unrestricted or permanently restricted.
Permanently restricted investment income represents the
change in value of a beneficial interest in a perpetual trust.
All other investment income includes unrestricted amounts
generated from the YWCA and Foundation investment
accounts.
Receivables
Grants and fees receivable represent amounts due from
various federal, state, and local agencies for purposes
specified by each grant. Promises to give are recorded at
net realizable value and represent amounts due from United
Way allocations and unconditional pledges to the
Foundation.
Allowance For Doubtful Accounts
Management considers all receivables to be collectible. As
such, an allowance for doubtful accounts is not recorded in
the accompanying financial statements.
Property And Equipment
Property and equipment are stated at cost, if purchased, or
at estimated fair value at date of receipt if contributed.
Depreciation is calculated using the straight-line method
over the estimated useful lives of the respective assets,
which range from three to 40 years. Expenditures in excess
of $750 with an estimated useful life in excess of one year
are capitalized. Gifts of long-lived assets are reported as
unrestricted support unless the donor has restricted the asset
for a specific purpose.
Repairs and maintenance of property and equipment are
charged to operations and major improvements are
capitalized. Upon retirement, sale, or other disposition of
property and equipment, costs and accumulated
depreciation are eliminated from the accounts and any
resulting gain or loss is included in operations.
Property acquired with grant funds is considered owned by
the Organization while used in the program for which it is
purchased or in future authorized programs; however, its
disposition as well as the ownership of any proceeds
therefrom is subject to applicable regulations.
Noncash Contributions
Contributions of materials and securities are recorded as
support at their fair value at the date of donation.
Contributions of services are recorded as support at their
estimated fair value if the services received create or
enhance non-fmancial assets or require specialized skills,
are provided by individuals possessing those skills, and
would typically need to be purchased if not provided by
donation.
Expense Allocation
Costs of providing services have been detailed in the
statements of functional expenses and summarized on a
functional basis in the statements of activities and change in
net assets. Expenses that can be identified with a specific
program or support service are allocated directly according
to their natural expenditure classification.
Use Of Estimates
The preparation of fmancial statements in conformity with
accounting principles generally accepted in the United
States of America requires management to make estimates
and assumptions that affect certain reported amounts and
disclosures. Accordingly, actual results could differ from
those estimates.
Reclassifications
Certain amounts in the 2003 combined financial statements
have been reclassified to conform to the 2004 presentation.
Page 11
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Notes To Combined Financial Statements
September 30, 2004 And 2003
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Note B - Promises to Give
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Promises to give are due as follows at September 30:
2004
$ 53,726
32,481
$ 86,207
2003
$ 35,615
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Less than one year
One to three years
Totals
$ 35,615
Note C - Investments
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Investments consist of the following at September 30:
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2004 2003
Cash $ 38,455 $ 13,253
Equity securities 188,881 168,932
U.S. government notes 190,692 184,575
$ 418,028 $ 366,760
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At September 30,2004 and 2003, investment return
consists of interest and dividend income of $28,966 and
$38,212 (net of fees of $2,300 and $2,147), respectively,
and net realized and unrealized gains of $22,122 and
$14,783, respectively.
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Note D - Land Lease Receivable
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The YWCA leases its Family Village facility land from the
City of St. Petersburg, Florida under a 25 year lease
agreement that commenced on April 1997 for a onetime
payment of $300. The lease requires the YWCA to use the
land for certain restricted purposes or the agreement can be
terminated.
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The YWCA leases its Hispanic Outreach Center under a
five year lease agreement that commenced on November
2001 for a onetime payment of $1. The lease requires the
YWCA to use the property to implement the Latin
Outreach program.
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The YWCA records these leasing transactions as land lease
receivable and in-kind contribution. Amounts recorded are
based on the fair value of the leased property. The land
lease receivable is recognized as an in-kind expense over
the lease term, which is expected to be realized as follows:
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2004 2003
One year or less $ 101,515 $ 101,515
One to five years 166,894 248,895
Over five years 243,942 263,456
$ 512,351 $ 613,866
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Note E - Property and Equipment
Property and equipment consist of the following at
September 30:
Building and improvements
Leasehold improvements
Furniture and equipment
Vehic1es
2004
$ 2,924,359
182,258
235,068
73,030
3,414,715
(717,534)
$ 2,697,181
2003
$ 2,887,608
164,423
221,459
73,176
3,346,666
(583,866)
$ 2,762,800
Less accumulated depreciation
Note F - Split Interest Agreements
Charitable Remainder Trust
The YWCA is beneficiary of a charitable remainder trust
held by a third party. The YWCA has recorded a
receivable based on the present value of the estimated
future benefit to be received when the trust assets are
distributed, based on the life expectancy of the beneficiary
named in the trust.
Beneficial Interest In Perpetual Trust Held By Third Party
The YWCA is an income beneficiary of a perpetual trust
held by a third party, which is measured based on the fair
value of the trust assets. Change in the fair value of the
trust assets is reported as permanently restricted gains or
losses. Income distributions from the trust are reported as
unrestricted investment income.
Note G - Notes Payable
Notes payable consist of the following at September 30,
2004 and 2003:
$300,000 promissory note payable for funds received
pursuant to a Community Development Block Grant from
the City of St. Petersburg, Florida. Compliance with all
provisions set forth in the note shall defer payment of the
principal amount through January, 1, 2022 and all sums
due and payable shall be forgiven as of that date. Interest
will not accrue while payment of the principal is deferred.
The note is secured by real property.
$195,602 promissory note payable to a bank with interest
accruing at 7.5% and monthly payments of $1,625
including interest. The note is secured by real property
owned by the Foundation and matures September 4,2023.
Page 12
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Notes To Combined Financial Statements
September 30, 2004 And 2003
I
Aggregate maturities of notes payable are as follows at
September 30:
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2004
2005 $ 4,787
2006 5,164
2007 5,571
2008 5,971
2009 6,480
Thereafter 467,629
$ 495,602
2003
$ A,398
4,787
5,164
5,571
5,971
474,109
$ 500,000
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Interest expense for the years ending September 30, 2004
and 2003 was $15,097 and $0, respectively.
I
Note H - In-Kind Contributions
I
The Pinellas County School Board provides teachers and
supplies for the Adolescent Pregnancy and Parenting
program. A total of $206,769 was contributed in 2004,
consisting of $196,269 for salaries and related fringe
benefits and $10,500 for miscellaneous support. A total of
$185,553 was contributed in 2003, consisting of $175,074
for salaries and related fringe benefits and $10,480 for
miscellaneous support. Other miscellaneous in-kind
contributions of $0 and $16,030 were received in 2004 and
2003, respectively.
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Note I - Contingencies And Commitments
I
The YWCA receives a substantial amount of support from
grantor agencies for its programs. If this support were to
be reduced or eliminated, it could affect the operation of
the supported programs. In addition, the Organization is
subject to audit examination by the grantor agencies. In the
event that reimbursed expenditures were disallowed,
repayment would be required. It is the opinion of
management that no grant expenditures would be
disallowed for the September 30, 2004 and 2003 fiscal
years.
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Note J - Leases
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The YWCA leases various facilities and office equipment
under operating leases. The leases expire in 2004 and
through 2006.
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Future lease commitments under noncancelable leases with
terms in excess of one year are as follows:
2005 $ 59,723
2006 18,774
2007 14,739
2008 13,331
2009 524
$ 107,091
Lease expense associated with the noncancelable leases for
the years ended September 30, 2004 and 2003 was $63,411
and $51,352, respectively.
Note K - Defined Benefit Plan
The YWCA participates in the national YWCA Retirement
Fund, Inc., which is a dermed benefit plan for employees
who have completed two years of service and at least 1,000
hours of service during each of those two years.
Participants are immediately 100 % vested. Effective
January 2003, the YWCA contributes 7.5 % of eligible
employee salaries; prior January 2003, the YWCA
contributed 10%. Contributions paid to the plan during the
fiscal years 2004 and 2003 were $165,098 and $137,871,
respectively.
Note L - Temporarily and Permanently
Restricted Net Assets
At September 30, net assets were temporarily restricted for
the following purposes:
2004 2003
Time Restricted
Promises to give
Land leases
Remainder trust
Grants
$ 86,207
5U,351
47,635
18,308
$ 664,501
$ 35,614
613,866
56,703
10,000
$ 716,183
At September 30 permanently restricted net assets consisted
of the following:
2004 2003
Endowment $ 80,214 $ 80,214
Beneficial interest in perpetual
trust 128,359 125,082
$ 208,573 $ 205,296
Page 13
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Notes To Combined Financial Statements
September 30, 2004 And 2003
Note M - Related Party Transactions
The YWCA began leasing a building from the Foundation
in September 2003. The lease term is for six years through
. August 31,2009. Payments of $8,000 per month are
recorded as rent expense for the YWCA and as rental
income for the Foundation. Accordingly, rent expense and
income recorded by the entities for fiscal years ending
September 30, 2004 and 2003 related to this lease totaled
$96,000 and $8,000, respectively. The amounts have been
eliminated in the combined fmancial statements for the
2004 and 2003 fiscal years.
From time to time, the Foundation receives contributions
from members of the board of directors and staff of the
YWCA in addition to contributions it receives from the
public at large. As of September 30, 2004 and 2003,
promises to give included amounts due from board and staff
members in the amount of $42,232 and $0, respectively.
Page 14
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(~\~
Gregol)T, Sharer & Stuart, ~A.
Richard H. Caton, CPA
M. Timothy Farrell, CPA
Thomas H. Gregory, CPA
Jeffrey P. McClanathan, CPA
James G. Newman, CPA
Paula D. Popovich, CPA
Larry W. Sharer, CPA
Byron C. Smith, CPA
Charles 1. Stuart, CPA
Richard G. Ulrich, CPA
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Report Of Independent Certified Public Accountants
On Supplementary Information
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Board of Directors
Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
St. Petersburg, Florida
I
Our report on our audit of the combined fmancial statements of Young Women's Christian Association of Tampa
Bay, Inc. and affiliate for 2004 appears on page three. Our audit was performed for the purpose of forming an
opinion on the basic combined fmancial statements taken as a whole. The accompanying schedule of expenditures
of federal awards and combined schedule of revenue and expenses by program are presented for purposes of
additional analysis or as required by U.S. Office of Management and Budget Circular A-133, Audits of States,
Local Governments, and Non-Profit Organizations, and are not a required part of the basic combined fmancial
statements. Such information has been subjected to the auditing procedures applied in the audit of the basic
combined fmancial statements and, in our opinion, is fairly stated, in all material respects, in relation to the basic
combined fmancial statements taken as a whole.
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Gregory, Sharer & Stuart, P .A.
p~~~~,~.t\.
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St. Petersburg, Florida
December 17, 2004
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CERTIFIED PuBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS
100 Second Avenue South · Suite 600 · St. Petersburg, Florida 33701-4336
727/821-6161 FAX 727/822-4573
www.gsscpa.com
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Young Women's Christian Association Of Tampa Bay, Inc. And Affiliate
Schedule Of Expenditures Of Federal Awards
For The Year Ended September 30,2004
Federal Agency
Pass-through Entity
Federal Program/State Project
U.S. Department of Agriculture
Passed through Florida Department of Health
Child and Adult Care Food Program
Department of Homeland Security
Passed through United Way of Pinellas County
Emergency Food and Shelter National Board Program
U.S. Department of Housing and Urban Development
Direct Program
Supportive Housing Program
Passed through City of St. Petersburg
Community Development Block Grant
Emergency Shelter Grants Program
U.S. Department of Justice
Passed through the City of Clearwater
Byrne Formula Grant Program
U.S. Department of Health and Human Services
Passed through Pinellas County Health Department
Healthy Start
Total Expenditures Of Federal Awards
* This represents the balance of a loan from a previous year for which the
federal government imposes continuing compliance requirements
CFDA
Number
10.558
97.024
14.235
14.218
14.231
16.579
93.926
Contract/Grant
Number
P5502
22-1694-00 #7
FL29B 10-2003
N/A
S-03-MC-12-0009
04-CJ -13-08-62-02-1 05
PS505
N/A
Expenditures
$ 132,834
24,675
174,006
* 300,000
8,465
70,757
49,196
23,901
$ 783,834
Page 18
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Notes To Schedule Of Expenditures Of Federal Awards
For The Year Ended September 30, 2004
Basis Of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Young Women's
Christian Association of Tampa Bay, Inc. (YWCA) and is presented on the accrual basis of accounting. The information in
this schedule is presented in accordance with accounting principles generally accepted in the United States of America as
applicable to non-profit organizations and the requirements of OMB Circular A-133, Audits of States, Local Government,
and Non-Profit Organizations.
Contingencies
Expenditures incurred by the YWCA are subject to audit and possible disallowance by the grantor agency. Management
believes that if audited, any adjustment for disallowed expenses would be immaterial in amount.
Support Requiring Matching Funds
The YWCA receives funding from various sources that require the YWCA to provide matching funds. During the year
ended September 3D, 2004, the YWCA provided matching funds equal to or in excess of the required match amounts.
Page 19
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(~\~
Gregol)T, Sharer & Stuart, P.A.
Richard H. Caton, CPA
M. Timothy Farrell, CPA
Thomas H. Gregory, CPA
Jeffrey P. McClanathan, CPA
James G. Newman, CPA
Paula D. Popovich, CPA
Larry W. Sharer, CPA
Byron C. Smith, CPA
Charles L. Stuart, CPA
Richard G. Ulrich, CPA
I
I
Report Of Independent Certified Public Accountants
On Compliance And On Internal Control Over Financial Reporting
Based On An Audit Of Financial Statements Performed
In Accordance With Government Auditing Standards
I
Board of Directors
Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
St. Petersburg, Florida
I
I
We have audited the combined financial statements of Young Women's Christian Association of Tampa Bay, Inc.
and affiliate (the Organization) as of and for the year ended September 30, 2004 and have issued our report
thereon dated December 17, 2004. We conducted our audit in accordance with auditing standards generally
accepted in the United States of America and the standards applicable to [mancial audits contained in Government
Auditing Standards, issued by the Comptroller General of the United States.
I
Compliance
I
As part of obtaining reasonable assurance about whether the Organization's combined [mancial statements are free
of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations,
contracts and grants, noncompliance with which could have a direct and material effect on the determination of
[mancial statement amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and, accordingly, we do not express such an opinion. The results of our tests disclosed no
instances of noncompliance that are required to be reported under Government Auditing Standards.
I
I
Internal Control Over Financial Reporting
I
In planning and performing our audit, we considered the Organization's internal control over [mancial reporting in
order to determine our auditing procedures for the purpose of expressing our opinion on the combined financial
statements and not to provide assurance on the internal control over financial reporting. Our consideration of the
internal control over [mancial reporting would not necessarily disclose all matters in the internal control over
fmancial reporting that might be material weaknesses. A material weakness is a condition in which the design or
operation of one or more of the internal control components does not reduce to a relatively low level the risk that
misstatements in amounts that would be material in relation to the combined fmancial statements being audited
may occur and not be detected within a timely period by employees in the normal course of performing their
assigned functions. We noted no matters involving the internal control over fmancial reporting and its operation
that we consider to be material weaknesses. However, we noted certain immaterial instances of noncompliance
which we have reported to management of the Organization in a separate letter dated December 17, 2004.
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I
This report is intended for the information and use of the board of directors and management, others within the
Organization, and federal awarding agencies and pass-through entities. However, this report is a matter of public
record and its distribution is not limited.
I
Gregory, Sharer & Stuart, P .A.
I
P~~~~Il(.~.
I
St. Petersburg, Florida
December 17, 2004
CERTIFIED PuBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS
100 Second Avenue South · Suite 600 · St. Petersburg, Florida 33701-4336
727/821-6161 FAX 727/822-4573
www.gsscpa.com
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(~\~
Gregory Sharer & Stuart, PA.
Richard H. Caton, CPA
M. Timothy Farrell, CPA
Thomas H. Gregory, CPA
Jeffrey P. McClanathan, CPA
James G. Newman, CPA
Paula D. Popovich, CPA
Larry W. Sharer, CPA
Byron C. Smith, CPA
Charles L. Stuart, CPA
Richard G. Ulrich, CPA
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I
Report Of Independent Certified Public Accountants
On Compliance With Requirements Applicable
To Each Major Program And On Internal Control
Over Compliance In Accordance With OMB Circular A-133
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I
Board of Directors
Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
St. Petersburg, Florida
Compliance
I
We have audited the compliance of Young Women's Christian Association of Tampa Bay, Inc. and affiliate (the
Organization) with the types of compliance requirements described in the U.S. Office of Management and Budget
(OMB) Circular A-B3 Compliance Supplement that are applicable to its major federal program for the year ended
September 30, 2004. The Organization's major federal programs are identified in the summary of audit results
section of the accompanying schedule of fmdings and questioned costs. Compliance with the requirements of laws,
regulations, contracts and grants applicable to its major federal program is the responsibility of the Organization's
management. Our responsibility is to express an opinion on the Organization's compliance with those
requirements based on our audit.
I
I
I
We conducted our audit of compliance in accordance with auditing standards generally accepted in the United
States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued
by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments,
and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the
audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements
referred to above that could have a direct and material effect on a major federal program occurred. An audit
includes examining, on a test basis, evidence about the Organization's compliance with those requirements and
performing such other procedures as we considered necessary in the circumstances. We believe that our audit
provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the
Organization's compliance with those requirements.
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I
In our opinion, the Organization complied, in all material respects, with the requirements referred to above that
are applicable to its major federal program for the year ended September 30, 2004.
I
Internal Control Over Compliance
I
The Organization's management is responsible for establishing and maintaining effective internal control over
compliance with the requirements of laws, regulations, contracts, and grants applicable to federal programs. In
planning and performing our audit, we considered the Organization's internal control over compliance with
requirements that could have a direct and material effect on a major federal program in order to determine our
auditing procedures for the purpose of expressing an opinion on compliance and to test and report on internal
control over compliance in accordance with OMB Circular A-133.
I
I
CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS
100 Second Avenue South · Suite 600 · St. Petersburg, Florida 33701-4336
727/821-6161 FAX 727/822-4573
www.gsscpa.com
I
I
I
I
Our consideration of the internal control over compliance would not necessarily disclose all matters in the internal
control that might be material weaknesses. A material weakness is a condition in which the design or operation of
one or more of the internal control components does not reduce to a relatively low level the risk that
noncompliance with applicable requirements of laws, regulations, contracts, and grants that would be material in
relation to a major federal program being audited may occur and not be detected within a timely period by
employees in the normal course of performing their assigned functions. We noted no matters involving the internal
control over compliance and its operation that we consider to be material weaknesses.
I
I
This report is intended for the information and use of the board of directors and management, others within the
Organization, and federal awarding agencies and pass-through entities. However, this report is a matter of public
record and its distribution is not limited.
I
I
Gregory, Sharer & Stuart, P .A.
p~SJ-:.. _ ~, ~.I>t.
I
St. Petersburg, Florida
December 17, 2004
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Schedule Of Findings And Questioned Costs
Year Ended September 30, 2004
A. Summary of Audit Results
1. The auditor's report expresses an unq~ed opinion on the fmancial statements.
2. There were no reportable conditions or material weaknesses in internal control disclosed by the audit of the
combined fmancial statements.
3. No instances of noncompliance material to the combined fmancial statements were disclosed during the audit.
4. There were no reportable conditions or material weaknesses in internal control over major programs.
5. An unqualified opinion was issued on compliance for major programs.
6. There were no audit fmdings that are required to be reported under Section 51O(a) of OMB Circular A-133.
7. Major program: U.S. Department of Housing and Urban Development, Supportive Housing Program, CFDA
14.235.
8. A $500,000 threshold was used to distinguish between Type A and Type B programs.
9. The Organization did qualify as a low risk auditee under Section 530 of OMB Circular A-133.
B. Findings - Financial Statement Audit
None.
C. Findings and Questioned Costs - Major Federal Award Program Audit
None.
Page 23
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Young Women's Christian Association of Tampa Bay, Inc. And Affiliate
Summary Schedule Of Prior Year's Audit Findings
Year Ended September 30, 2004
The were no reportable audit fmdings for the year ended September 30,2003.
Page 24