Notes to SEFA
Accounting Policies: NOTE A SIGNIFICANT ACCOUNTING POLICY The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Bais Yaakov School for Girls, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the basic financial statements. The School has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.