Notes to SEFA
Title: FOOD DISTRIBUTION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Atlanta Community Food Bank, Inc. (ACFB) under programs of the federal
government for the year ended June 30, 2023 and is presented on the accrual basis of accounting.
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. Because the Schedule presents only a
selected portion of the operations of ACFB, it is not intended to and does not present the financial
position, changes in net assets or cash flows of ACFB.
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair value of the commodities received and distributed. Commodities received and distributed during the year ended June 30, 2023, have been valued at $1.57 per pound, which is an approximation of the average national wholesale value of one pound of donated product as derived from Feeding America. At June 30, 2023, ACFB had food commodities totaling $477,117 in inventory.
Title: RECONCILIATION OF SCHEDULE TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Atlanta Community Food Bank, Inc. (ACFB) under programs of the federal
government for the year ended June 30, 2023 and is presented on the accrual basis of accounting.
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. Because the Schedule presents only a
selected portion of the operations of ACFB, it is not intended to and does not present the financial
position, changes in net assets or cash flows of ACFB.
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
See the Notes to the SEFA for chart/table