Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Fairbanks Community Food Bank Service, Inc., under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Fairbanks Community Food Bank Service, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of Fairbanks Community Food Bank Service, Inc.
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.
See the Notes to the SEFA for chart/table
See the Notes to the SEFA for chart/table
Non-financial assistance is reported in the schedule at fair market value of commodities received.
Fairbanks Community Food Bank Service, Inc. has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.