Notes to SEFA
Title: 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: United Talmudical Academy Torah V'yirah, 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 United Talmudical Academy Torah V'yirah,
Inc. under programs of the federal government for the year ended August 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, 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 United Talmudical Academy Torah V'yirah, Inc., it is not intended to
and does not present the financial position, changes in net assets or cash flows of
United Talmudical Academy Torah V'yirah, Inc.