Notes to SEFA
Title: DEFERRED AWARDS
Accounting Policies: Expenditures included in 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. Pass-through entity identifying numbers are presented where applicable. Certain costs included in the accompanying Schedule of Expenditures of Federal Awards have been capitalized for financial statement purposes and are, therefore, not included in the accompanying Statement of Activities.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
FCCAA recognizes federal grants in excess of program expenditures as deferred awards. Deferred awards utilized as expenses are incurred through performance of the program.
Title: ACCRUED AWARDS
Accounting Policies: Expenditures included in 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. Pass-through entity identifying numbers are presented where applicable. Certain costs included in the accompanying Schedule of Expenditures of Federal Awards have been capitalized for financial statement purposes and are, therefore, not included in the accompanying Statement of Activities.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Grant revenues are accrued according to the specifications set forth in the specific grant agreements. Grants received by FCCAA are based upon funds available for distribution by the grantor or pass-through entity. Therefore, FCCAA recognizes expenditures in excess of grants as accrued awards.
Title: FOOD DISTRIBUTION
Accounting Policies: Expenditures included in 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. Pass-through entity identifying numbers are presented where applicable. Certain costs included in the accompanying Schedule of Expenditures of Federal Awards have been capitalized for financial statement purposes and are, therefore, not included in the accompanying Statement of Activities.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the USDA assigned values of the commodities received and disbursed. At June 30, 2023, the FCCAA had food commodities totaling $266,794 in inventory.