Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards is presented 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. Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the basic financial statements
De Minimis Rate Used: Y
Rate Explanation: Yeshivah and Mesivta Arugath Habosem has elected to use the 10% de minimis indirect cost rate
allowed under the Uniform Guidance.