Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule)includes the federal grant activity of Congregation and Yeshiva Machzikei Hadas,Inc. and Affiliates under programs of the federal government for the year endedAugust 31, 2023. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the schedule presents only aselected portion of the operations of Congregation and Yeshiva Machzikei Hadas,Inc. and Affiliates, it is not intended to and does not present the financial position,changes in net assets or cash flows of Congregation and Yeshiva MachzikeiHadas, Inc. and Affiliates.
Title: NON-CASH ASSISTANCE
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The amount of food commodities reported on the schedule of federal expendituresis the value of food commodities distributed by Congregation and YeshivaMachzikei Hadas, Inc. and Affiliates and priced as prescribed by the United StatesDepartment of Agriculture.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Congregation and Yeshiva Machzikei Hadas, Inc. and Affiliates did not provideany federal awards to subrecipients.