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: N
Rate Explanation: United Talmudical Academy of Boro Park and Subsidiaries 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 United Talmudical Academy of Boro Park
and Subsidiaries under programs of the federal government for the year ended
December 31, 2020. 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 of Boro Park
and Subsidiaries, it is not intended to and does not present the financial position,
changes in net assets or cash flows of United Talmudical Academy of Boro Park
and Subsidiaries.
Title: NONCASH AWARDS
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: N
Rate Explanation: United Talmudical Academy of Boro Park and Subsidiaries has not 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 of federal expenditures
is the value of food commodities distributed by United Talmudical Academy of
Boro Park and Subsidiaries 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: N
Rate Explanation: United Talmudical Academy of Boro Park and Subsidiaries has not elected to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
United Talmudical Academy of Boro Park and Subsidiaries did not provide any
federal awards to subrecipients.