Notes to SEFA
Title: FOOD DISTRIBUTION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Atlanta Community Food Bank, Inc. (ACFB) under programs of the federal
government for the year ended June 30, 2024, and is presented on the accrual basis of
accounting. The information in this Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations (CFR) 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 ACFB, it is not intended to, and
does not, present the financial position, changes in net assets or cash flows of ACFB.
De Minimis Rate Used: N
Rate Explanation: The agency has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair value of the commodities received
and distributed. Commodities received and distributed during the year ended June 30, 2024, have
been valued at $1.74 per pound, which is an approximation of the average national wholesale
value of one pound of donated product as derived from Feeding America. At June 30, 2024, ACFB
had food commodities totaling $760,980 in inventory.
Title: RECONCILIATION OF SCHEDULE TO CONSOLIDATED FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of Atlanta Community Food Bank, Inc. (ACFB) under programs of the federal
government for the year ended June 30, 2024, and is presented on the accrual basis of
accounting. The information in this Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations (CFR) 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 ACFB, it is not intended to, and
does not, present the financial position, changes in net assets or cash flows of ACFB.
De Minimis Rate Used: N
Rate Explanation: The agency has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The following is a reconciliation of the total federal awards in the Schedule to the accompanying
consolidated financial statements for the year ended June 30, 2024:
Financial Statement Presentation
Consolidated Statement of Activities – federal grants $ 3 9,241,190
Consolidated Statement of Functional Expenses – federal
portion of donated product distributed (see Note 2) 30,461,931
Total federal awards per the Schedule $ 6 9,703,121