Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The expenditures included in the accompanying schedule were reported on a regulatory basis in accordance with
U.S. Department of Health and Human Services and U.S. Department of Agriculture. Expenditures are recognized in
the accounting period in which the related liability is incurred. Expenditures reported included any property or
equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: OPEN Food Program Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and
state grant activity of OPEN Food Program, Inc., for the year ended September 30, 2024, 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). Because the Schedule presents only a selected portion of
the operations of OPEN Food Program, Inc., it is not intended to and does not present the financial position,
changes in net assets, or cash flows of OPEN Food Program, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: The expenditures included in the accompanying schedule were reported on a regulatory basis in accordance with
U.S. Department of Health and Human Services and U.S. Department of Agriculture. Expenditures are recognized in
the accounting period in which the related liability is incurred. Expenditures reported included any property or
equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: OPEN Food Program Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
The expenditures included in the accompanying schedule were reported on a regulatory basis in accordance with
U.S. Department of Health and Human Services and U.S. Department of Agriculture. Expenditures are recognized in
the accounting period in which the related liability is incurred. Expenditures reported included any property or
equipment acquisitions incurred under the federal program
Title: Indirect Cost Rate
Accounting Policies: The expenditures included in the accompanying schedule were reported on a regulatory basis in accordance with
U.S. Department of Health and Human Services and U.S. Department of Agriculture. Expenditures are recognized in
the accounting period in which the related liability is incurred. Expenditures reported included any property or
equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: OPEN Food Program Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.
OPEN Food Program, Inc., has elected not to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.