Notes to SEFA
Title: GENERAL
Accounting Policies: BASIS OF ACCOUNTINGThe accompanying schedule of expenses of federal grant activity of the Organization is presented onthe accrual basis of accounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: INDIRECT COST REIMBURSEMENTSThe Uniform Guidance requires that all indirect costs be charged through the use of an approvedindirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for aone-time election to use a 10% de minimus reimbursement rate. The Organization has not elected touse the 10% de minimus indirect cost rate allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") presents the activityof all federal financial assistance programs of Yolo Food Bank (the "Organization"). All expenditures offederal financial assistance received are included in the schedule.
Title: CLAIMS
Accounting Policies: BASIS OF ACCOUNTINGThe accompanying schedule of expenses of federal grant activity of the Organization is presented onthe accrual basis of accounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: INDIRECT COST REIMBURSEMENTSThe Uniform Guidance requires that all indirect costs be charged through the use of an approvedindirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for aone-time election to use a 10% de minimus reimbursement rate. The Organization has not elected touse the 10% de minimus indirect cost rate allowed under Uniform Guidance.
The Organization has received federal grants for specific purposes that are subject to review and audit by the Federal Government. Although such audits could result in expenditure disallowances under grant terms, any required reimbursements are not expected to be material.