Notes to SEFA
Title: Federal Loan Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of North Texas Food Bank (the "Organization") under programs of the federal government for the year ended June 30, 20241. 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 protion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Summary of Significant 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. Pass-Through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not have any federal loan programs during the year eneded June 30, 2024.
Title: Subrecipients and Contractors
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of North Texas Food Bank (the "Organization") under programs of the federal government for the year ended June 30, 20241. 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 protion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Summary of Significant 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. Pass-Through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
During the year, the Organization operated as the monitoring and administrative agent of a large contract for the Texas Department of Agriculture Food. Responsibilities under this contract included the monitoring of partnered agencies with which its program distributes food. Of the federal expenditures in the attached schedules, $55,037,321 was provided to these partnered agencies for the year ended June 30,2024.
Title: Non-Financial Support
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of North Texas Food Bank (the "Organization") under programs of the federal government for the year ended June 30, 20241. 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 protion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Summary of Significant 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. Pass-Through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2024, the Organization received $57,673,138 from in-kind food that was donated from federal sources and passed-through to the Organization.