Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. However, there may be variances between amounts reported in the statement of activities due to audit adjustments, and when applicable, in accordance with cost principles under Uniform Guidance, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CAPSBC has not elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of CAPSBC under programs of the federal government for the year ended December 31, 2024. The information 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 CAPSBC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CAPSBC.
Expenditures reported in the schedule are reported on the accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. However, there may be variances
between amounts reported in the statement of activities due to audit adjustments, and when applicable, in accordance with cost principles under Uniform Guidance, certain types of expenditures are not allowable or are limited as to reimbursement.
Combining Schedule of Assets, Liabilities, and Net Assets and Combining Schedule of Activities and Changes in Net Assets
These schedules are presented at the request of management for purposes of additional analysis and are not a required part of the basic financial statements. These schedules are prepared on the accrual basis of accounting. Interfund activity (due to/from) has been eliminated.
Schedule of Activities and Changes in Net Assets - Operating Activities and Pass-Through Activities
This schedule is presented to provide an analysis of CAPSBC's operational activities and pass-through activities and the impact on the changes in net assets. The schedule provides a reconciliation of the impact on the Federal in-kind commodities inventory at the beginning of the year and the end of the year.
Schedules of Revenues and Expenditures - Budget to Actual
These schedules are presented for the purpose of providing budget to actual analysis of specific contracts and grants to date as required by the granting agencies. These schedules are prepared on the accrual basis of accounting and are cumulative of all expenditures during the grant period.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. However, there may be variances between amounts reported in the statement of activities due to audit adjustments, and when applicable, in accordance with cost principles under Uniform Guidance, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CAPSBC has not elected to use the 10% de minimis cost rate.
CAPSBC has not elected to use the 10% de minimis cost rate.
Title: FOOD DONATION
Accounting Policies: Expenditures reported in the schedule are reported on the accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. However, there may be variances between amounts reported in the statement of activities due to audit adjustments, and when applicable, in accordance with cost principles under Uniform Guidance, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CAPSBC has not elected to use the 10% de minimis cost rate.
Nonmonetary assistance is reported on the schedule at the fair market value of the commodities received and disbursed. At December 31, 2024, CAPSBC had food commodities totaling $977,044 in inventory.