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: Congregation Yeshiva Avir Yakov has elected to use the 10-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 Congregation Yeshiva Avir Yakov 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 Congregation Yeshiva Avir Yakov, it is not intended to and does not
present the financial position, changes in net assets or cash flows of Congregation
Yeshiva Avir Yakov.
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: Congregation Yeshiva Avir Yakov has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount of food commodities reported on the schedule federal expenditures is
the value of food commodities distributed by Congregation Yeshiva Avir Yakov
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: Y
Rate Explanation: Congregation Yeshiva Avir Yakov has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Congregation Yeshiva Avir Yakov did not provide any federal awards to
subrecipients.