Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recongized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limtied as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the deminimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Food For Free Committee, Inc., and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance witht 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) utilizing the May 2024 Compliance Supplement. Because the schedule presents only a selected portion of the operations of Food For Free Committee, Inc. it is not intended to and does not present the financial position, change in net assets, or cash flows of Food For Free Committee, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recongized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limtied as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the deminimis cost rate.
Expenditures reported on the Schdule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Uniform Guidance, wherein certain types of expendtures are not allowable or are limited as to reimbursement.