Notes to SEFA
The accompanying schedule of expenditures of federal awards and schedule of expenditures of state financial assistance (the “Schedules”) includes the federal and state award activity of Second Harvest Food Bank of Middle Tennessee, Inc. (the “Food Bank”) under programs of the federal government and the State of Tennessee for the year ended June 30, 2025. The information in these Schedules 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) and the State of Tennessee Audit Manual. Because the Schedule presents only a selected portion of the operations of the Food Bank, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Food Bank.
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 outstanding balance on the Community Facilities Rural Development Loans at June 30, 2025 are as follows: 97-01 $ 1,862,751 97-02 648,360 $ 2,511,111
The Food Bank has not distributed federal grant funds to subrecipients.