Title: Note 1 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards
(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. Therefore, some of the amounts presented in the Schedule may
differ from amounts presented in or used in the preparation of the basic
financial statements. Because the Schedule presents only a select portion of the
operations of Community Food Warehouse of Mercer County, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of
Community Food Warehouse of Mercer County.
De Minimis Rate Used: N
Rate Explanation: Community Food Warehouse of Mercer County has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule of expenditures of federal awards
(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. Therefore, some of the amounts presented in the Schedule may
differ from amounts presented in or used in the preparation of the basic
financial statements. Because the Schedule presents only a select portion of the
operations of Community Food Warehouse of Mercer County, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of
Community Food Warehouse of Mercer County.
Title: Note 2 - Basis of Presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards
(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. Therefore, some of the amounts presented in the Schedule may
differ from amounts presented in or used in the preparation of the basic
financial statements. Because the Schedule presents only a select portion of the
operations of Community Food Warehouse of Mercer County, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of
Community Food Warehouse of Mercer County.
De Minimis Rate Used: N
Rate Explanation: Community Food Warehouse of Mercer County has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule includes the federal award activity of Community Food
Warehouse of Mercer County, under programs of the federal government for the year
ended December 31, 2024. 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).
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards
(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. Therefore, some of the amounts presented in the Schedule may
differ from amounts presented in or used in the preparation of the basic
financial statements. Because the Schedule presents only a select portion of the
operations of Community Food Warehouse of Mercer County, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of
Community Food Warehouse of Mercer County.
De Minimis Rate Used: N
Rate Explanation: Community Food Warehouse of Mercer County has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
Community Food Warehouse of Mercer County has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 - Subrecipient Funding
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards
(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. Therefore, some of the amounts presented in the Schedule may
differ from amounts presented in or used in the preparation of the basic
financial statements. Because the Schedule presents only a select portion of the
operations of Community Food Warehouse of Mercer County, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of
Community Food Warehouse of Mercer County.
De Minimis Rate Used: N
Rate Explanation: Community Food Warehouse of Mercer County has elected not to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.
There were no funds passed through to subrecipients from any of the federal programs