Audit 339288

Accounting Policies: 1. BASIS OF PRESENTATION The  accompanying  schedule  of  expenditures  of  federal  awards  (the  Schedule)  includes  the  federal award activity of Helena Food Share, Inc. (the Organization). 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 the Organization, it is not intended to and does not present the combined financial position, changes in net assets, or cash flows of the Organization. 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. All  federal  awards  received  by  the  Organization  are  considered  conditional  grants,  and  therefore, revenue is recognized when qualifying expenses have been incurred. De Minimis Rate Used: Y Rate Explanation: The Organization has elected to use the 10% de minimis cost rate.