Notes to SEFA
Title: Food commodities
Accounting Policies: The schedule of expenditures of federal awards includes the current year federal grant activity of Ozarks Food Harvest, Inc. (the Organization) 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). 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. Because the schedule presents only a selected portion of operations of the Organization, it is not intended to and does not present the financial position, change in net assets, or cash flows for Ozarks Food Harvest, Inc.
De Minimis Rate Used: Y
Rate Explanation: Ozarks Food Harvest, Inc. has elected to use the 10% de minimis cost rate.
Nonmonetary assistance is reported in the schedule at the value determined by Feeding America National Food Bank Network.
Title: Subsequent events
Accounting Policies: The schedule of expenditures of federal awards includes the current year federal grant activity of Ozarks Food Harvest, Inc. (the Organization) 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). 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. Because the schedule presents only a selected portion of operations of the Organization, it is not intended to and does not present the financial position, change in net assets, or cash flows for Ozarks Food Harvest, Inc.
De Minimis Rate Used: Y
Rate Explanation: Ozarks Food Harvest, Inc. has elected to use the 10% de minimis cost rate.
In preparing the schedule of expenditures of federal awards, Ozarks Food Harvest, Inc. has evaluated events and transactions for potential recognition or disclosure through January 4, 2025, the date the schedule was available to be issued.