Title: BASIS OF PRESENTATION
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Mosdos Sanz Klausenburg of Monsey has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal award activity includes the federal award activity of Mosdos Sanz Klausenburg of Monsey under programs for the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of the 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 Mosdos Sanz Klausenburg of Monsey, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: PASS THROUGH AGENCY AND SUBRECIPIENTS
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Mosdos Sanz Klausenburg of Monsey has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization participates in the NYS Department of Education Food Programs (for breakfast, lunch, and snack) which is a pass-through agency of the United States Department of Agriculture. There were no payments made to subrecipients for federal awards received during the year ended June 30, 2022.
Title: DISASTER ASSISTANCE LOANS (59.008)
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Mosdos Sanz Klausenburg of Monsey has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization received a Disaster Assistance Loan. The balance outstanding on the loan as of June 30, 2022 was $500,000.
Title: CHILD NUTRITION CLUSTER PROGRAM
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Mosdos Sanz Klausenburg of Monsey has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Mosdos Sanz Klausenburg of Monsey was approved by the State of New York’s Department of Agriculture under the National School Lunch Act and Child Nutrition Act of 1966, to operate the Child Nutrition Program which includes the School Breakfast Program and
National School Lunch Program. The program enables the school to offer free or reduced-priced meals to eligible students.
Title: SUBSEQUENT EVENTS
Accounting Policies: The schedule of expenditures of federal awards is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Mosdos Sanz Klausenburg of Monsey has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has evaluated subsequent events and transactions for potential recognition or disclosure in the Schedule of Expenditures of Federal Awards through February 22, 2024, the date the Schedule of Expenditures of Federal Awards was available to be issued.