Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activities of the Organization, under programs of the federal government for the year ended December 31, 2024. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization. It is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Organization. Therefore, amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
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. The Organization has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Pass-through entity identifying numbers are presented where available.
Non-monetary assistance is reported in the Schedule at the fair value of commodities. Federal expenditures presented in the Schedule of $ 6,841,290 were provided as nonmonetary federal awards to subrecipients.
Government commodities stated at fair value are included as part of inventory balances on the accompanying statement of financial position, and at December 31, 2024 totaled $210,361.
The Organization had no federal insurance programs in effect and no loan or loan guarantee programs outstanding during the year ended December 31, 2024.
Federal expenditures included in the accompanying Schedule includes food commodities and are reported as food and product distributions in the Organization's basic financial statements.