Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnai Yoel, Inc and is presented on the cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Yeshiva Imrei Yosef Spinka for the year ended August 31, 2023. 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 (“Uniform Guidance”).
Title: Summary of Significant Accounting Principles
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnai Yoel, Inc and is presented on the cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnai Yoel, Inc and is presented on the cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Yeshiva Imrei Yosef Spinka has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnai Yoel, Inc and is presented on the cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no payments made to subrecipients for federal awards during the year ended August 31, 2023.
Title: Major Program and Cluster
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Congregation Bnai Yoel, Inc and is presented on the cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As defined in the Uniform Guidance, the Child Nutrition Cluster programs are considered to be a cluster and accordingly, have been classified as one program for testing purposes. The Child Nutrition Cluster has been defined as a major program.