Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule)includes the federal grant activity of United Talmudical Academy Torah V'yirah,Inc. and Affiliates under programs of the federal government for the year endedAugust 31, 2022. The information in this schedule is presented in accordance withthe requirement of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the schedule presents only aselected portion of the operations of United Talmudical Academy Torah V'yirah,Inc. and Affiliates, it is not intended to and does not present the financial position,changes in net assets or cash flows of United Talmudical Academy Torah V'yirah,Inc. and Affiliates.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
United Talmudical Academy Torah V'yirah, Inc. and Affiliates did not provideany federal awards to subrecipients.