Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant activity of Yeshiva Ohr Torah under programs of the federal government for the year ended June 30, 2024. The information in the 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 Yeshiva Ohr Torah it is not intended to and does not present the financial position, changes in net assets or cash flows of Yeshiva Ohr Torah.
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.
Yeshiva Ohr Torah did not provide any federal awards to subrecipients.
Yeshiva Ohr Torah has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Yeshiva Ohr Torah had an Economic Injury Disaster Loan balance of $499,078 as of June 30, 2024. The original loan proceeds of $500,000 were received and expended in a prior fiscal year.