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: Mosdos Sanz Monsey 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 Mosdos Sanz of Monsey 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 Mosdos Sanz of Monsey it is not intended to
and does not present the financial position, changes in net assets or cash flows of Mosdos
Sanz of Monsey.
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: Mosdos Sanz Monsey 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: 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: Mosdos Sanz Monsey has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Mosdos Sanz of Monsey 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: Mosdos Sanz Monsey has elected to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Mosdos Sanz of Monsey has elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.