Notes to SEFA
Title: BASIS OF PRESENTATION
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. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Greater Lansing Food Bank has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. The Greater Lansing Food Bank does not pass through federal funds.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of Greater Lansing Food Bank 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 (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 Greater Lansing Food Bank, it is not intended to and does not present the financial position,
changes in net assets or cash flows of Greater Lansing Food Bank.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Greater Lansing Food Bank has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. The Greater Lansing Food Bank does not pass through federal funds.
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. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available. The
Greater Lansing Food Bank has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. The Greater Lansing Food Bank does not pass through federal funds.
Title: FOOD DISTRIBUTION
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. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Greater Lansing Food Bank has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. The Greater Lansing Food Bank does not pass through federal funds.
Non-cash assistance (food commodities) is reported in the Schedule using an average price per pound as
determined by a national study from Feeding America.
Title: RECONCILIATION WITH AUDITED FINANCIAL STATEMENTS
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. Negative amounts (if any) shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The
Greater Lansing Food Bank has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. The Greater Lansing Food Bank does not pass through federal funds.
Reconciliation of federal revenues reported in the financial statements with expenditures per the schedule of
expenditures of federal awards:
Expenditures per schedule of expenditures of federal awards $ 7,569,804
Adjustment for expenditures incurred in previous years 57,542
Federal revenue per financial statements $ 7,627,346