Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the
federal award activity of Food Bank of Contra Costa and Solano (a California nonprofit
corporation) (the "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 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 Food Bank, it is not intended to
and does not present the financial position, changes in net assets, or cash flows of the Food Bank.
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 limited as to reimbursement. Pass_x0002_through entity identifying numbers are presented where available and applicable.
Donated Commodities - The Food Bank receives donated commodities such as food for use in
one of its programs. The Food Bank included the fair market value of such commodities on the
Schedule of Expenditures of Federal Awards
De Minimis Rate Used: N
Rate Explanation: The Food Bank has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.