Notes to SEFA
Title: NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of Yeshiva Imrei Chaim Viznitz, School Food Service and is presented on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
1 INCORPORATE
Yeshiva Imrei Chaim Viznitz was incorporated in the state of New York under Article 10
of the Religious Corporations Law. Yeshiva Imrei Chaim Viznitz is exempt from federal
income tax under Section 501(c) (3) of the Internal Revenue Service.
2 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes federal grant
activity of Yeshiva Imrei Chaim Viznitz School Food Service, and is presented on the
accrual basis of accounting. The information in this schedule is presented in accordance
with the requirements of the Uniform Guidance, 2 CFR Part 200 Subpart F.
Title: NOTE B - CLUSTERS OF PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of Yeshiva Imrei Chaim Viznitz, School Food Service and is presented on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
1 All federal grants awarded for the School Food Service Program included in the
accompanying schedule are part of a single cluster of programs, the Child Nutrition
Cluster administered by the USDA. As such, all grants are to be deemed a single award
for audit purposes.
2 The Child Nutrition Cluster awards require a Single Audit, therefore a major program
threshold need not be determined.
Title: NOTE C - INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of Yeshiva Imrei Chaim Viznitz, School Food Service and is presented on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
1 The organization has elected to use the 10% de minimis indirect cost rate for recovery of
allowable indirect costs for federal grants, as allowed by OMB Guidance § 200.414(f).
Title: NOTE D - SUBSEQUENT EVENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of Yeshiva Imrei Chaim Viznitz, School Food Service and is presented on the accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
1 For the purpose of the accompanying schedule of expenditures of federal awards,
subsequent events have been evaluated through January 29, 2024, which is the date this
schedule of expenditures of federal awards was available to be issued.
2 As of January 29, 2024, no material subsequent events have been noted.