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: Congregation Kolel Chasidei Rachmistrivka, 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 Congregation Kolel Chasidei Rachmistrivka, Inc under
programs of the federal government for the year ended June 30, 2023. The information
in the 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 Congregation Kolel Chasidei
Rachmistrivka, Inc it is not intended to and does not present the financial position,
changes in net assets or cash flows of Congregation Kolel Chasidei Rachmistrivka, 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: Congregation Kolel Chasidei Rachmistrivka, Inc has 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: NON-CASH ASSISTANCE
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: Congregation Kolel Chasidei Rachmistrivka, Inc has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
The amount of food commodities reported on the schedule is the value of food
commodities distributed by Congregation Kolel Chasidei Rachmistrivka, Inc and priced
as prescribed by the United States Department of Agriculture.
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: Congregation Kolel Chasidei Rachmistrivka, Inc has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Kolel Chasidei Rachmistrivka, 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: Congregation Kolel Chasidei Rachmistrivka, Inc has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Kolel Chasidei Rachmistrivka, Inc has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Title: CHILD NUTRITION CLUSTER PROGRAM
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: Congregation Kolel Chasidei Rachmistrivka, Inc has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Kolel Chasidei Rachmistrivka, Inc was approved by the State of New
York’s Department of Agriculture under the National School Lunch Act and Child
Nutrition Act of 1966, to operate the Child Nutrition Program which includes the School
Breakfast Program and National School Lunch Program. The programs enable the
Organization to offer free or reduced-priced meals to eligible students.
Title: LOAN OUTSTANDING BALANCE
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: Congregation Kolel Chasidei Rachmistrivka, Inc has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Kolel Chasidei Rachmistrivka, Inc had a Disaster Assistance Loan balance
of $150,000 as of June 30, 2023.