Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule)includes the federal grant activity of Rabbinical College of Telshe, Inc. underprograms of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirement ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the schedule presents only a selected portion of theoperations of Rabbinical College of Telshe, Inc., it is not intended to and does notpresent the financial position, changes in net assets or cash flows of RabbinicalCollege of Telshe, Inc.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Rabbinical College of Telshe, Inc. did not provide any federal awards tosubrecipients.