Notes to SEFA
Title: Nonmonetary Assistance
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Feed More, Inc. and is presented on the basis of accounting as described in Note 2 of the basic financial statements. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the amount reported on the Schedule of Expenditures of Federal Awards,nonmonetary assistance (food commodities) for 2023 is as follows:Emergency Food Assistance Program: $2,721,691 Commodity Supplemental Food Program: $1,516,532 Summer Food Service Program: $1,219 Total: $4,239,442 as of June 30, 2023, the Organization had the following nonmonetary inventory:Emergency Food Assistance Program: $627,711 Commodity Supplemental Food Program: $384,334 Summer Food Service Program: $2,512 Total: $1,014,557