Notes to SEFA
Title: Note 1 – BASIS OF PRESENTATION
Accounting Policies: THE SCHEDULE OF FEDERAL EXPENDITURES INCLUDES FEDERAL GRANT ACTIVITY OF YESHIVA OF MACHZIKAI HADAS, INC. 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
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
The accompanying schedule of federal expenditures includes federal grant activity of Yeshiva of Machzikai Hadas, Inc. 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, Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: THE SCHEDULE OF FEDERAL EXPENDITURES INCLUDES FEDERAL GRANT ACTIVITY OF YESHIVA OF MACHZIKAI HADAS, INC. 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
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
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 and Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: THE SCHEDULE OF FEDERAL EXPENDITURES INCLUDES FEDERAL GRANT ACTIVITY OF YESHIVA OF MACHZIKAI HADAS, INC. 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
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
Yeshiva of Machzikai Hadas, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 4 – PASS-THROUGH AWARDS TO SUBRECIPIENTS
Accounting Policies: THE SCHEDULE OF FEDERAL EXPENDITURES INCLUDES FEDERAL GRANT ACTIVITY OF YESHIVA OF MACHZIKAI HADAS, INC. 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
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE
There were no awards passed through to subrecipients.