Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Food Bank Council of Michigan, Inc., has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Food Bank Council of Michigan, Inc., under programs of the federal government for the year ended September 30, 2022. 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). Because the Schedule presents only a selected portion of the operations of Food Bank Council of Michigan, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Food Bank Council of Michigan, Inc.
Title: Non-cash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Food Bank Council of Michigan, Inc., has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The value of the non-cash assistance received was determined in accordance with the provisions of the Uniform Guidance.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Food Bank Council of Michigan, Inc., has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal expenditures reported on the Schedule reconcile to federal revenues included in grants and contracts in the financial statements as follows: Grant and contract revenue, per the financial statements $8,346,377; Food commodities - in kind, per the financial statements $88,710,068; Less: nonfederal grant and contract revenue $(3,305,000); Less: nonfederal food commodities - in kind $(28,334,819); Total expenditures of federal awards $65,416,626