Notes to SEFA
Title: FOOD DISTRIBUTION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. The cash basis recognizes revenue when received, and expenditures are recognized when the obligation is paid. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The disbursement of food distribution is calculated based on the inventory of food commodities on hand and food commodities received. The disbursements for the year ended June 30, 2024 is calculated as follows:
Beginning of Year Food Commodity Inventory $ 0.00
Receipts of Food Commodities 40,394.69
End of Year Food Commodity Inventory 0.00
Commodities Consumed $ 40,394.69