Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnos Yaakov Inc. and is presented on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 10% de minimis rate
The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. As the schedule presents only a selected portion of the operations of Congregation Bnos Yaakov Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Congregation Bnos Yaakov Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnos Yaakov Inc. and is presented on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 10% de minimis rate
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnos Yaakov Inc. and is presented on the accrual basis of accounting.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnos Yaakov Inc. and is presented on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: 10% de minimis rate
Congregation Bnos Yaakov Inc. has elected to use the de minimis indirect cost rate.