Audit 309714

Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of the Organization under programs of the federal government for the year ended September 30, 2023. The information in the SEFA 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 SEFA presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting Expenditures reported on the SEFA 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. The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. Non-Cash Awards The value of United States Department of Agriculture (USDA) commodities received during the year and reported in the accompanying statement of activities and changes in net assets was estimated by the USDA. The value of USDA commodities distributed during the year, including amounts held in inventory at the beginning of the year, and reported in the accompanying statement of functional expenses was from the Commodity Supplemental Food Program and the Emergency Food Assistance Program. As of year-end, the Organization had an inventory of USDA food commodities of $1,469,804 included in the accompanying statement of financial position. NOTE 3 – SUBRECIPIENT PASS THROUGH No entities received pass through federal awards from the Organization during the year. De Minimis Rate Used: N Rate Explanation: Expenditures reported on the SEFA 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. The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.