Notes to SEFA
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.
Pass-through entity identifying numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: The audittee used the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal grant activity of Rhode Island Community Food Bank Association (the Food Bank)
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 Food Bank, it is not intended to and does not
present the financial position, changes in net assets or cash flows of the Food Bank.
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.
Pass-through entity identifying numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: The audittee used the de minimis cost rate.
The Food Bank does not have a federally approved negotiated indirect cost rate agreement
and, therefore, is subject to the 10-percent de minimis indirect cost rate under the Uniform
Guidance.