Title: Note 1 - Basis of Presentation
Accounting Policies: Note 1 - Basis of Presentation
The accompanying Schedule of Indirect Cost Rate Calculation (the Schedule) has been prepared in accordance with accounting principles generally accepted in the United States of America and cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR), 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: Note 3 - Exclusions and Unallowable Expenses
In accordance with the Organization’s provisional indirect cost rate as defined in the Organization’s negotiated indirect cost rate agreement, the base of application excludes: donated food and relief commodities, including procurement of supplies per the financial statements; international freight; capital acquisition; the portion of subrecipient costs in excess of the first $25,000 of each subrecipient per year; and other gains and losses.
The accompanying Schedule of Indirect Cost Rate Calculation (the Schedule) has been prepared in accordance with accounting principles generally accepted in the United States of America and cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR), 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Note 2 - Basis of Accounting
Accounting Policies: Note 1 - Basis of Presentation
The accompanying Schedule of Indirect Cost Rate Calculation (the Schedule) has been prepared in accordance with accounting principles generally accepted in the United States of America and cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR), 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: Note 3 - Exclusions and Unallowable Expenses
In accordance with the Organization’s provisional indirect cost rate as defined in the Organization’s negotiated indirect cost rate agreement, the base of application excludes: donated food and relief commodities, including procurement of supplies per the financial statements; international freight; capital acquisition; the portion of subrecipient costs in excess of the first $25,000 of each subrecipient per year; and other gains and losses.
The accompanying Schedule is prepared using the accrual basis of accounting.
Title: Note 3 - Exclusions and Unallowable Expenses
Accounting Policies: Note 1 - Basis of Presentation
The accompanying Schedule of Indirect Cost Rate Calculation (the Schedule) has been prepared in accordance with accounting principles generally accepted in the United States of America and cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR), 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: Note 3 - Exclusions and Unallowable Expenses
In accordance with the Organization’s provisional indirect cost rate as defined in the Organization’s negotiated indirect cost rate agreement, the base of application excludes: donated food and relief commodities, including procurement of supplies per the financial statements; international freight; capital acquisition; the portion of subrecipient costs in excess of the first $25,000 of each subrecipient per year; and other gains and losses.
In accordance with the Organization’s provisional indirect cost rate as defined in the Organization’s negotiated indirect cost rate agreement, the base of application excludes: donated food and relief commodities, including procurement of supplies per the financial statements; international freight; capital acquisition; the portion of subrecipient costs in excess of the first $25,000 of each subrecipient per year; and other gains and losses.