Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Imperial Valley Food Bank (the "Organization") under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Unifor 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: The amount expended includes expenses claimed as an indirect cost recovery using the approved cost allocation plan. The Organization has not elected to use the 10-percent de minimis indirect cost rate as covered in 2 CFR 200.414.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Imperial Valley Food Bank (the “Organization”) under programs of the federal government for the year ended December 31, 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). 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: Program Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Imperial Valley Food Bank (the "Organization") under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Unifor 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: The amount expended includes expenses claimed as an indirect cost recovery using the approved cost allocation plan. The Organization has not elected to use the 10-percent de minimis indirect cost rate as covered in 2 CFR 200.414.
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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Entire program costs, including the Organization’s portion, may be more than shown. Pass-through entity identifying numbers are presented where available.
Title: Noncash Awards
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Imperial Valley Food Bank (the "Organization") under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Unifor 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: The amount expended includes expenses claimed as an indirect cost recovery using the approved cost allocation plan. The Organization has not elected to use the 10-percent de minimis indirect cost rate as covered in 2 CFR 200.414.
The amount of commodities reported on the schedule is the value of commodities distributed by the Organization during the current year and priced as prescribed by the Department of Agriculture. At December 31, 2023, the Organization had USDA food commodities totaling $830,870 in inventory.
Title: Federal Indirect Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of Imperial Valley Food Bank (the "Organization") under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Unifor 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: The amount expended includes expenses claimed as an indirect cost recovery using the approved cost allocation plan. The Organization has not elected to use the 10-percent de minimis indirect cost rate as covered in 2 CFR 200.414.
The amount expended includes expenses claimed as an indirect cost recovery using the approved cost allocation plan. The Organization has not elected to use the 10-percent de minimis indirect cost rate as covered in 2 CFR 200.414.