Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 - Summary of Significant 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: N
Rate Explanation: Note 3 - Indirect Cost Rate
The Organization has elected not to use the 10 percent de minimus indirect cost rate as allowed under
the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of The Foodbank, Inc. under programs of the federal government for the year ended
June 30, 2023. The information in this Schedule is presented in accordance with the requirements 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 the Organization, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the Organization.
Title: Note 4 - Donated Commodities
Accounting Policies: Note 2 - Summary of Significant 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: N
Rate Explanation: Note 3 - Indirect Cost Rate
The Organization has elected not to use the 10 percent de minimus indirect cost rate as allowed under
the Uniform Guidance.
The amounts reported as federal expenditures for certain federal programs represents federal
commodities distributed to pantries and other qualified agencies during the fiscal year under the
programs with CFDA numbers 10.559, 10.565, and 10.569. The value of federal commodities on hand
for these programs at June 30, 2023 was $425,414.