Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10 PERCENT DE MINMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORMA GUIDANCE
The accompany Schedule of Expenditures of Federal Awards includes the federal grant activity of El Pasoans Fighting Hunger and Affiliate ( a nonprofit organization) and is presented on the accrual basis of accounting. The information in this schedule is presented in acordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of basis consolidated financial statements.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10 PERCENT DE MINMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORMA GUIDANCE
The Organization has not elected the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3 FOOD DISTRIBUTION
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10 PERCENT DE MINMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORMA GUIDANCE
Non-cash assistance is reported in the schedule at the fair market value of the commodities received and distributed. USDA food commodities inventory on hand totaled $1,523,622 at December 31, 2023.
Title: NOTE 4 CONTINGENCIES
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10 PERCENT DE MINMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORMA GUIDANCE
The Organization had in effect for the fiscal year ended December 31, 2023 the following insurance coverage: General Liability $2,000,000, Umbrella $7,000,000, Workers Compensation $1,000,000, Officer and Directors $2,000,000, Cyber Insurance $2,000,000, Commercial Carrier $1,000,000.
Title: NOTE 5 RECONCILIATION OF SCHDULE OF EXPENDITURES OF FEDERAL AWARDS TO CONSOLIDATED FINANCIAL STATEMENTS
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS NOT ELECTED TO USE THE 10 PERCENT DE MINMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORMA GUIDANCE
Total federal awards expended per schedule of expenditures of federal award $34,179,981 less: reported elsewhere -0- Statement of Activities, page 5 $34,179,981.