Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards include the federal grant activity of Agudath Israel of Inc. and are presented on the accrual basis of accounting. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. As the schedule presents only a selected portion of the operations of Agudath Israel of America Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Agudath Israel of America Inc.
De Minimis Rate Used: N
Rate Explanation: Actual administrative costs were used
The accompanying schedule of expenditures of federal awards include the federal grant activity of Agudath Israel of Inc. and are presented on the accrual basis of accounting. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. As the schedule presents only a selected portion of the operations of Agudath Israel of America Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Agudath Israel of America Inc.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards include the federal grant activity of Agudath Israel of Inc. and are presented on the accrual basis of accounting. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. As the schedule presents only a selected portion of the operations of Agudath Israel of America Inc., it is not intended to and does not present the financial position, change in net assets, or cash flows of Agudath Israel of America Inc.
De Minimis Rate Used: N
Rate Explanation: Actual administrative costs were used
The Organization has not elected to use the 10% de minimis indirect cost rate.