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: Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. has not 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 Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. under programs of the federal government for the year ended January 31, 2024. 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 Young Men's and Young Women's Hebrew Association of Williamsburg, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Young Men's and Young Women's Hebrew Association of Williamsburg, Inc.
Title: Summary of Significant Accounting Policies
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: Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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: Subrecipients
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: Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. did not provide any federal awards to subrecipients.
Title: Indirect Cost Rate
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: Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Young Men's and Young Women's Hebrew Association of Williamsburg, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.