Title: Note 1 – 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: Congregation Yeshiva Bnei Torah, Inc. 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 Congregation Yeshiva Bnei Torah, Inc. under programs of the
federal government for the year ended June 30, 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 Congregation Yeshiva Bnei Torah, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Congregation Yeshiva Bnei Torah, Inc.
Title: Note 2 – 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: Y
Rate Explanation: Congregation Yeshiva Bnei Torah, Inc. has 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.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: Note 3 – 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: Congregation Yeshiva Bnei Torah, Inc. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Yeshiva Bnei Torah, Inc. did not provide any federal awards to subrecipients.
Title: Note 4 – Child Care Grant:
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: Congregation Yeshiva Bnei Torah, Inc. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization received NYC Early Learn funding from the NYC Department of
Education during the year ended June 30, 2023. A portion of these funds may have included
the Child Care and Development Block Grant, which originated from the federal
government. However, the pass-through agency has not provided the quantitative
information to the Organization, and it is unclear if these funds were present as part of the
Child Care grant. The Organization estimated, based on historical data, that the amount of
federal funding if present, would be below the threshold for a major program under the Uniform Guidance. In the year ending June 30, 2023, the total Child Care grant received from the NYC Department of Education was $1,044,825.
Title: Note 5 – 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: Y
Rate Explanation: Congregation Yeshiva Bnei Torah, Inc. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Yeshiva Bnei Torah, Inc. has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.