Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Yeshiva Bnos Ahavas Israel and Affiliate has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the federal grant activity of Yeshiva Bnos Ahavas Israel and Affiliate under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Yeshiva Bnos Ahavas Israel and Affiliate, it is not intended to and does not present the financial position, changes in net assets or cash flows of Yeshiva Bnos Ahavas Israel and Affiliate.
Title: Noncash Awards
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Yeshiva Bnos Ahavas Israel and Affiliate has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount of food commodities reported on the schedule of federal expenditures is the value of food commodities distributed by Yeshiva Bnos Ahavas Israel and Affiliate and priced as prescribed by the United States Department of Agriculture.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Yeshiva Bnos Ahavas Israel and Affiliate has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Yeshiva Bnos Ahavas Israel and Affiliate did not provide any federal awards to subrecipients.
Title: Loan Outstanding Balance
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Yeshiva Bnos Ahavas Israel and Affiliate has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Yeshiva Bnos Ahavas Israel and Affiliate was the recipient of loans of $2,000,000 from the U.S. Small Business Administration’s Economic Injury Disaster Loan program. The balance outstanding as of June 30, 2022, was$2,500,000.