Title: Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization records all expenditures of federal awards using the direct cost method. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant activity of Harry Chapin Food Bank of Southwest Florida, Inc. (the "Organization") and is presented in accordance with accounting principles generally accepted in the United States of America. 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").
Title: Summary of Significant Accounting Policies
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization records all expenditures of federal awards using the direct cost method. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
Title: Food Distribution
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization records all expenditures of federal awards using the direct cost method. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
Included in the Schedule of Expenditures of Federal Awards are in-kind food items received through The Emergency Food Assistance Program (TEFAP) and the Commodity Supplemental Food Program (CSFP). For the fiscal year ended June 30, 2024, the value of these contributions and related inventory are based on price lists provided by Feeding America and the Florida Department of Agriculture and Consumer Services, respectively.
Title: Contingencies
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization records all expenditures of federal awards using the direct cost method. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
The Federal programs are subject to financial and compliance audits by grantor agencies which, if instances of material noncompliance are found, may result in disallowed expenditures and affect the Organization's continued participation in specific programs. The amount, if any, of expenditures which may be disallowed by the grantor agencies cannot be determined at this time, although the Organization believes the Unit to be in substantial compliance and therefore expects such amounts, if any, to be immaterial.
Title: Indirect Costs
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization records all expenditures of federal awards using the direct cost method. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
The Organization records all expenditures of federal awards using the direct cost method. In this manner, the Organization has elected not to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.