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: Auditee did not elect to use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (“the Schedule”)
includes the federal grant activity of Bet Yaakov Ohr Sarah under programs of the
federal government for the year ended August 31, 2022. 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 Bet
Yaakov Ohr Sarah, it is not intended to and does not present the financial
position, changes in net assets or cash flows of Bet Yaakov Ohr Sarah.
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: N
Rate Explanation: Auditee did not elect to 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: 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: Auditee did not elect to use the de minimis cost rate.
The amount of food commodities reported on the schedule of federal expenditures
is the value of food commodities distributed by Bet Yaakov Ohr Sarah 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: Auditee did not elect to use the de minimis cost rate.
Bet Yaakov Ohr Sarah 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: N
Rate Explanation: Auditee did not elect to use the de minimis cost rate.
Bet Yaakov Ohr Sarah has not elected to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.