Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Food Bank of Central Louisiana, Inc. (Food Bank) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the 10% de minims indirect cost rate during the year ended June 30, 2024.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Food Bank of Central Louisiana, Inc. (Food Bank) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Food Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Food Bank of Central Louisiana, Inc. (Food Bank) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the 10% de minims indirect cost rate during the year ended June 30, 2024.
Non-monetary assistance is reported in the schedule at the estimated cost of the commodities disbursed. At June 30, 2024, the organization has USDA commodities valued at $747,799 in inventory. The organization received $5,155,842 and distributed $4,582,691 of commodities for the year ended June 30, 2024
Title: Sub-Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Food Bank of Central Louisiana, Inc. (Food Bank) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the 10% de minims indirect cost rate during the year ended June 30, 2024.
Most of the commodities distributed are done so to eligible recipient agencies considered to be sub-recipients of the Food Bank.
Title: Reconciliation of Expenses to Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Food Bank of Central Louisiana, Inc. (Food Bank) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the 10% de minims indirect cost rate during the year ended June 30, 2024.
Program expenses $20,620,791
Non-cash adjustment – donated food (11,685,792)
Non-cash adjustment – depreciation (209,948)
Non-federal expenditures (1,801,307)
Total Federal Expenditures $6,923,744
Title: Indirect Cost Rate Election
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Food Bank of Central Louisiana, Inc. (Food Bank) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Food Bank did not elect to use the 10% de minims indirect cost rate during the year ended June 30, 2024.
The Food Bank did not elect to use the 10% de minims indirect cost rate during the year ended June 30, 2024.