Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Florida Organic Growers and Consumers, Inc. has elected not to use the 10 percent de minimus Indirect Cost Rate Election.
The accompanying schedule of expenditures of Federal awards includes the Federal awards of Florida Organic Growers and Consumers, Inc. under programs of the federal government for the year ended December 31, 2023 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 Florida Organic Growers and Consumers, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Florida Organic Growers and Consumers, Inc..
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Florida Organic Growers and Consumers, Inc. has elected not to use the 10 percent de minimus Indirect Cost Rate Election.
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 allowed or are limited as to reimbursement.
Title: NOTE 3 - DE MINIMIS INDIRECT COST RATE ELECTION
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Florida Organic Growers and Consumers, Inc. has elected not to use the 10 percent de minimus Indirect Cost Rate Election.
Florida Organic Growers and Consumers, Inc. has elected not to use the 10 percent de minimus Indirect Cost Rate Election.
Title: NOTE 4 - SUBRECIPIENTS
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Florida Organic Growers and Consumers, Inc. has elected not to use the 10 percent de minimus Indirect Cost Rate Election.
Florida Organic Growers and Consumers, Inc. passed through $704,252 in awards to subrecipients during the year ended December 31, 2023. This amount is reflected in the statement of functional expenses as SEOPP Partner Distributions.