Audit 9720

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 Bobover Yeshiva of Monsey has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance Congregation Bobover Yeshiva of Monsey did not provide any federal awards to subrecipients.

Title: INDIRECT COST RATE 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 Bobover Yeshiva of Monsey has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance Congregation Bobover Yeshiva of Monsey has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.

Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 Bobover Yeshiva of Monsey has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance 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.

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 Bobover Yeshiva of Monsey 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 Bobover Yeshiva of Monsey under programs of the federal government for the year ended August 31, 2022. 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 Bobover Yeshiva of Monsey, it is not intended to and does not present the financial position, changes in net assets or cash flows of Congregation Bobover Yeshiva of Monsey.

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 Bobover Yeshiva of Monsey 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 of federal expenditures is the value of food commodities distributed by Congregation Bobover Yeshiva of Monsey and priced as prescribed by the United States Department of Agriculture.

Title: CHILD NUTRITION CLUSTER PROGRAM 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 Bobover Yeshiva of Monsey has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance Congregation Bobover Yeshiva of Monsey was approved by the State of New York’s Department of Agriculture under the National School Lunch Act and Child Nutrition Act of 1966, to operate the Child Nutrition Program which includes the School Breakfast Program and National School Lunch Program. The programs enable the Organization to offer free or reduced-priced meals to eligible students.