Notes to SEFA
Title: Basis of Presentation
Accounting Policies: (2) Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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.Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years.Expenditures include indirect costs, relating primarily to facilities operation andadministrative services, which are allocated to federal award programs based on formulas asprescribed by the granting agencies.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of Foodbank of Santa Barbara County under programs of the federalgovernment for the year ended June 30, 2022. This information in the Schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administration Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of Foodbank of Santa Barbara County, it is not intended to and does not present thefinancial position, changes in net assets, or cash flows of Foodbank of Santa Barbara County.