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 - Chicago, Inc.under programs 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 - Chicago, Inc., it is not intended toand does not present the financial position, changes in net assets or cash flows ofRabbinical College of Telshe - Chicago, Inc..
Title: NON-CASH ASSISTANCE
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 amount of food commodities reported on the schedule of federal expendituresis the value of food commodities distributed by Rabbinical College of Telshe -Chicago, Inc. and priced as prescribed by the United States Department ofAgriculture.
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 - Chicago, Inc. did not provide any federal awardsto subrecipients.