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: N
Rate Explanation: Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim has not 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 Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim under
programs of the federal government for the year ended August 31, 2023. 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 Talmudical Seminary of Bobov a/b/a
Mesivta Eitz Chaim, it is not intended to and does not present the financial position,
changes in net assets or cash flows of Talmudical Seminary of Bobov d/b/a Mesivta Eitz
Chaim.
Title: Summary of Significant Accounting Policies
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: N
Rate Explanation: Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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.
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: N
Rate Explanation: Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim did not provide any federal
awards to subrecipients.
Title: Indirect Cost Rate
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: N
Rate Explanation: Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Talmudical Seminary of Bobov d/b/a Mesivta Eitz Chaim has not elected to use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.