Notes to SEFA
Title: NOTE A
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING, EXCEPT FOR SUBRECIPIENT EXPENDITURES, WHICH ARE RECORDED ON A CASH BASIS. WHEN APPLICABLE, SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN COST PRINCIPLES OF THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10% DE MINIMS COST RATE
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES THE FEDERAL GRANT ACTIVITY OF THE IDAHO FOODBANK WAREHOUSE, INC. (THE ORGANIZATION), UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED APRIL 30, 2023. THE INFORMATION 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 GUIDNACE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS THE ORGANIZATION, IT IS NOT INTENDED TO AND DOES NOT PRESNET THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF THE ORGANIZATIONS.
Title: NOTE B
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING, EXCEPT FOR SUBRECIPIENT EXPENDITURES, WHICH ARE RECORDED ON A CASH BASIS. WHEN APPLICABLE, SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN COST PRINCIPLES OF THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10% DE MINIMS COST RATE
AT APRIL 30, 2023 THE IDAHO FOODBANK WAREHOUSE, INC. HAD RECEIVED AND DISTRIBUTED FOOD COMMODITIES IN THE AMOUNT OF $4,002,623 AND HAD FOOD COMMODITIES TOTALING $434,321 OF FOOD CONTRIBUTED BY FEDERAL PROGRAMS INCLUDED IN YEAR-END INVENTORIES. NONMONETARY ASSISTANCE IS REPORTED IN THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AT THE VALUE OF ITS DONATED AND DISTRIBUTED USING THE PRICE PER POUND PROVIDED BY FEEDING AMERICA. SEE NOTE A OF THE AUDITED FINANCIAL STATEMENTS FOR FURTHER DETAILS.