Title: NOTE 1. BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Second Harvest Food Bank Santa Cruz County 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE USED INDIRECT RATES AS SET FORTH IN THE BUDGETED CONTRACT.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Second Harvest Food Bank Santa Cruz County 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Title: NOTE 2. SUMMARY OF SIGNFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Second Harvest Food Bank Santa Cruz County 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE USED INDIRECT RATES AS SET FORTH IN THE BUDGETED CONTRACT.
Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3. FOOD DONATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Second Harvest Food Bank Santa Cruz County 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE USED INDIRECT RATES AS SET FORTH IN THE BUDGETED CONTRACT.
Nonmonetary assistance is reported in the schedule at the rate established by Feeding America, which was $1.93 a pound during the fiscal year. At June 30, 2024, the Organization had food commodities totaling $976,369 in inventory.
Title: NOTE 4. FEDERAL INDIRECT RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Second Harvest Food Bank Santa Cruz County 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE USED INDIRECT RATES AS SET FORTH IN THE BUDGETED CONTRACT.
The Organization has not elected to use the 10-percent de minimis indirect cost rate.