Notes to SEFA
Title: NOTE A - Basis of Presentation
Accounting Policies: 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 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: N
Rate Explanation: Facing Hunger Foodbank, Inc. has elected to not use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance because all the costs are charged directly to applicable programs.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Facing Hunger Foodbank, Inc. under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with 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 Facing Hunger Foodbank, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Facing Hunger Foodbank, Inc.
Title: NOTE C - Food Commodities
Accounting Policies: 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 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: N
Rate Explanation: Facing Hunger Foodbank, Inc. has elected to not use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance because all the costs are charged directly to applicable programs.
Food commodities represent The Emergency Food Assistance Program (TEFAP) and Commodity Supplemental Food Program (CSFP) commodities received from the United States Department of Agriculture (USDA) and passed through the West Virginia Department of Agriculture. Commodities are valued based on amounts established by the USDA. For the year ending December 31, 2024, Facing Hunger Foodbank, Inc. received $2,659,744 of TEFAP commodities and $1,988,266 of CSFP commodities. At December 31, 2024, $535,017 of TEFAP commodities and $298,148 of CSFP commodities remained on hand.