Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Foodlink, Inc. and Affiliate (New York not-for-profit corporations) (Foodlink) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. The information in the 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 Foodlink, it is not intended to and does not present the financial position, change in net assets, or cash flows of Foodlink.
De Minimis Rate Used: Y
Rate Explanation: Foodlink has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
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. Amounts included in the Schedule are actual expenditures for the year ended June 30, 2023. Differences between amounts included in the Schedule and amounts reported to funding agencies for these programs result from report timing.
Title: Food Donation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Foodlink, Inc. and Affiliate (New York not-for-profit corporations) (Foodlink) under programs of the federal government for the year ended June 30, 2023 and has been prepared in accordance with accounting principles generally accepted in the United States of America. The information in the 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 Foodlink, it is not intended to and does not present the financial position, change in net assets, or cash flows of Foodlink.
De Minimis Rate Used: Y
Rate Explanation: Foodlink has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Non-monetary assistance is reported on the Schedule at the Fair Value of the food commodities received and disbursed under the Emergency Food Assistance Program (Food Commodities), Assistance Listing No. 10.569. The value of the food donated is determined by using a rate of $1.57 per pound which is the food-items only unit rate provided by Feeding America, whcih is a valuation methodology approved by the New York State Bureau of Government. Donated Food Distribution for the distribution of USDA donated foods.