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: Auditee has elected to use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (“the schedule”)
includes the federal grant activity of Yeshivath Viznitz D’Khal Torath Chaim,
Inc. and Affiliate under programs of the federal government for the year ended
August 31, 2024. 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 Yeshivath Viznitz D’Khal Torath Chaim,
Inc. and Affiliate, it is not intended to and does not present the financial position,
changes in net assets or cash flows of Yeshivath Viznitz D’Khal Torath Chaim,
Inc.and Affiliate.
Title: NON-CASH ASSISTANCE
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: Auditee has elected 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 Yeshivath Viznitz D’Khal Torath
Chaim, Inc. and Affiliate and priced as prescribed by the United States
Department of Agriculture.
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: Auditee has elected 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: 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: Auditee has elected to use the de minimis cost rate.
Yeshivath Viznitz D’Khal Torath Chaim, Inc. and Affiliate 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: Auditee has elected to use the de minimis cost rate.
Yeshivath Viznitz D’Khal Torath Chaim, Inc. and Affiliate has elected to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.