Notes to SEFA
Title: NOTE 3: FOOD INVENTORY
Accounting Policies: NOTE 1: BASIS FOR PRESENTATION: The schedule of expenditures of federal awards includes the federal award activity of West Texas Food Bank under programs of the federal government for the year ended September 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). This schedule presents only a selected portion of the operations of the Food Bank and is not intended to and does not present the entire financial position, changes in net assets, or cash flows of the Food Bank or the consolidated financial statements. NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures reported on the Schedule 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.
References to government food commodities and financial assistance of federal awards apply to the programs listed in the accompanying schedule of federal awards. The Organization had no federal loan programs during the fiscal year ended September 30, 2023. The Food Bank provided no cash federal awards to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The Food Bank utilizes an alternative rate as prescribed by the TEFAP pounds distributed method.
Government food commodities inventory on hand totaled $1,394,350 as of September 30, 2023.
Title: NOTE 4: RECONCILIATION OF FEDERAL AWARDS TO FINANCIAL STATEMENTS
Accounting Policies: NOTE 1: BASIS FOR PRESENTATION: The schedule of expenditures of federal awards includes the federal award activity of West Texas Food Bank under programs of the federal government for the year ended September 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). This schedule presents only a selected portion of the operations of the Food Bank and is not intended to and does not present the entire financial position, changes in net assets, or cash flows of the Food Bank or the consolidated financial statements. NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures reported on the Schedule 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.
References to government food commodities and financial assistance of federal awards apply to the programs listed in the accompanying schedule of federal awards. The Organization had no federal loan programs during the fiscal year ended September 30, 2023. The Food Bank provided no cash federal awards to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The Food Bank utilizes an alternative rate as prescribed by the TEFAP pounds distributed method.
See the Notes to the SEFA for chart/table