Notes to SEFA
Title: NOTE A
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 allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: Mountain Roots Food Project has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance for all programs except for the AmeriCorps State and National grant. The AmericCorps State and national grant does not allow for the 10% indirect cost rate, therefore it is not used.
BASIS OF PRSENTATION - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mountain Roots Food Project 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 Mountain Roots Food Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mountain Roots Food Project.
Title: NOTE B
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 allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: Mountain Roots Food Project has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance for all programs except for the AmeriCorps State and National grant. The AmericCorps State and national grant does not allow for the 10% indirect cost rate, therefore it is not used.
SUMMARY OF SIGNIFICANT 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 allowable or are limited as to reimbursement.
Title: NOTE C
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 allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: Mountain Roots Food Project has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance for all programs except for the AmeriCorps State and National grant. The AmericCorps State and national grant does not allow for the 10% indirect cost rate, therefore it is not used.
DE MINIMUS INDIRECT COST RATE - Mountain Roots Food Project has elected to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance for all programs except for the AmeriCorps State and National grant. The AmericCorps State and national grant does not allow for the 10% indirect cost rate, therefore it is not used.