Notes to SEFA
Title: U.S. DEPARTMENT OF AGRICULTURE, COMMODITY SUPPLEMENTAL FOOD PROGRAM (CFDA 10.565)
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Focus: HOPE (the Organization) under programs of the federal government for the year ended September 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 Organization, it is not intended to and does not present the 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. Negative amounts, if any shown on the Schedule, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
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 expenditures included in the accompanying Schedule of Expenditures of Federal Awards relate to the value of the commodity foods received and distributed during the year and administrative costs incurred by Focus: HOPE pursuant to its participation in the United States Department of Agriculture, Commodity Supplemental Food Program (USDA CSFP). The estimated value of USDA CSFP commodities received during the fiscal years ended September 30, 2024 and 2023 was $17,308,249 and $16,912,452, respectively.
Title: SUBSEQUENT EVENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Focus: HOPE (the Organization) under programs of the federal government for the year ended September 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 Organization, it is not intended to and does not present the 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. Negative amounts, if any shown on the Schedule, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
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.
All subsequent events related to the major programs were evaluated through February 21, 2025, the date the accompanying reports were available to be issued. No significant event was noted that required adjustment or disclosure in the report.