Title: NOTE 2 - RECONCILIATION OF FEDERAL AWARDS TO THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of the
Food Bank of the Rio Grande Valley, Inc. and Subsidiaries (the “Food Bank”) under programs of the federal government for
the year ended June 30, 2023. The information in this 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), Audits of States, Local Governments, and Non-Profit Organizations. Therefore,
some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic
financial statements.
The Food Bank’s reporting entity and significant accounting policies are defined in Notes 1 and 2, respectively, of the Notes to the
Consolidated Financial Statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the de minimis cost rate of 10% as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The Food Bank, as a recipient agency in CSFP and TEFAP, considers all USDA donated foods distributed or used in a fiscal year as expended for purposes of the Schedule. Therefore, there are differences in amounts reported on the statement of activities as revenues and amounts reported on the Schedule as expenditures. The following table reconciles these amounts: Grant revenue per the Statement of Activities $ 20,863,411
Non-Federal Grants (2,361,604)
Decrease (Increase) in USDA Inventories 633
$ 18,502,440
Title: NOTE 3 – COMMODITIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of the
Food Bank of the Rio Grande Valley, Inc. and Subsidiaries (the “Food Bank”) under programs of the federal government for
the year ended June 30, 2023. The information in this 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), Audits of States, Local Governments, and Non-Profit Organizations. Therefore,
some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the basic
financial statements.
The Food Bank’s reporting entity and significant accounting policies are defined in Notes 1 and 2, respectively, of the Notes to the
Consolidated Financial Statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the de minimis cost rate of 10% as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The Food Bank received nonmonetary assistance in the form of food commodities totaling $ from CFDA No. 10.565 (Food Commodities), 10.569 (Food Commodities), and 97.024 (Food Commodities) for the year ended June 30, 2023. At June 30, 2023, the Food Bank had food commodities totaling $ in inventory related to federal awards. Program CFDA No. Inventory
Commodity Supplemental Food Program (CSFP) 10.565 $1,034,479
Emergency Food Assistance Program CCC 10.187 533,187
Emergency Food Assistance Program TEFAP 10.569 353,469
$1,921,135