Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying of expenditures of federal awards (Schedule) includes the federal grant activity of Food Bank of Alaska, Inc. under programs of the federal government for the year ended June 30, 2024. 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 Food Bank of Alaska, Inc., it is not intended to and does not present financial position, changes in net position, functional expenses, or cash flows of Food Bank of Alaska, Inc.
Title: 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Title: 3. Multi-agency Grant Clusters
Accounting Policies: Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Multi-agency grant clusters include:
Food Distribution Cluster:
Department of Health and Social Services:
Commodity Supplemental Food Program 10.565 $ 1,309,707
Department of Education and Early Development:
The Emergency Food Assistance Program 10.568 523,362
The Emergency Food Assistance Program 10.569 2,480,746
Total food distribution cluster $ 4,313,815
Title: 4. Reconciliation of Federal Expenditures to Financial Statements
Accounting Policies: Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Total federal expenditures per schedule $ 6,366,222
Less non-cash assistance (3,859,824)
Total non-commodities federal revenue $ 2,506,398
Total government grants and contracts
per Statement of Activities $ 4,236,274
Less State awards (1,719,876)
Less local grant (10,000)
Total federal grants per Statement of Activities $ 2,506,398
Title: 5. Subrecipients
Accounting Policies: Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
No federal funds were passed through to subrecipients.
Title: 6. Non-monetary Assistance
Accounting Policies: Expenditures reported on the Schedule reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: Food Bank of Alaska, Inc. has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
Non-monetary assistance is reported in the schedule at fair market value of commodities received.