Notes to SEFA
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: N
Rate Explanation: Rabbinical College of Telshe - Chicago, Inc., 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 Rabbinical College of Telshe - Chicago, 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 Rabbinical College of Telshe - Chicago, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Rabbinical College of Telshe - Chicago, Inc.
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: N
Rate Explanation: Rabbinical College of Telshe - Chicago, Inc., has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Rabbinical College of Telshe - Chicago, Inc. did not provide any federal awards to subrecipients.
Title: Note 4 Disaster Assistance Loan
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: Rabbinical College of Telshe - Chicago, Inc., has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Balance outstanding at June 30, 2023 was $1,989,590.
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: N
Rate Explanation: Rabbinical College of Telshe - Chicago, Inc., has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Rabbinical College of Telshe - Chicago, Inc., has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.