Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal and Non-federal Awards (“the Schedule”)
includes the federal award activity of BANANAS Incorporated (“BANANAS”), under programs of
the federal government for the year ended June 30, 2023. 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 BANANAS, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of BANANAS.
De Minimis Rate Used: Y
Rate Explanation: BANANAS elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal and Non-federal Awards (“the Schedule”)
includes the federal award activity of BANANAS Incorporated (“BANANAS”), under programs of
the federal government for the year ended June 30, 2023. 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 BANANAS, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of BANANAS.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal and Non-federal Awards (“the Schedule”)
includes the federal award activity of BANANAS Incorporated (“BANANAS”), under programs of
the federal government for the year ended June 30, 2023. 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 BANANAS, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of BANANAS.
De Minimis Rate Used: Y
Rate Explanation: BANANAS elected to use the 10% de minimis indirect cost rate 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 2 CFR 200, Subpart E (Cost
Principles), wherein certain types of expenditures are not allowable or are limited as to
reimbursement. BANANAS elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: Pass-through to Sub-recipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal and Non-federal Awards (“the Schedule”)
includes the federal award activity of BANANAS Incorporated (“BANANAS”), under programs of
the federal government for the year ended June 30, 2023. 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 BANANAS, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of BANANAS.
De Minimis Rate Used: Y
Rate Explanation: BANANAS elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
BANANAS did not provide any federal awards to sub-recipients.
Title: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal and Non-federal Awards (“the Schedule”)
includes the federal award activity of BANANAS Incorporated (“BANANAS”), under programs of
the federal government for the year ended June 30, 2023. 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 BANANAS, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of BANANAS.
De Minimis Rate Used: Y
Rate Explanation: BANANAS elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
BANANAS did not receive federal insurance, loans, or non-cash assistance during the year ended June 30, 2023.