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 Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Yeshivath Beth Yehudah has elected
to use the ten 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 Yeshivath Beth Yehudah School (the Organization) under programs of the federal government
for the year ended August 31, 2024. The information in this schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations part 200 (CFR), 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 the Organization, it is not intended to
and does not present the financial position, changes in net assets, or cash flows of the Organization
Title: Child Nutrition Program
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 Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Yeshivath Beth Yehudah has elected
to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
Yeshivath Beth Yehudah School was approved by the State of Michigan’s Department of Agriculture,
under the National School Lunch Act and Child Nutrition Act of 1966, to operate the Food Nutrition
Program which includes the Summer Food Program.
Title: Use of Estimates
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 Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Yeshivath Beth Yehudah has elected
to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
The preparation of financial statements in conformity with generally accepted accounting principles
requires management to make estimates and assumptions that affect certain reported amounts and
disclosures. Accordingly, actual results could differ from those estimates
Title: Subsequent Events
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 Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Yeshivath Beth Yehudah has elected
to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
Management considers events and transactions that occur after the financial statement date, but before
the financial statements are issued, to provide additional evidence relative to certain estimates or to
identify matters that require additional disclosure. These financial statements were available to be issued
on April 8, 2025 and subsequent events have been evaluated through that date.