Notes to SEFA
The District receives food commodities from the U. S. Department of Agriculture for use in its food service program. Commodities are recorded under Assistance Listing # 10.555 on the Schedule of Federal Awards. The commodities, in the amount of $2,082,573, are recognized as revenue when received. The commodities are recognized as expenditures when used by the schools. The majority of the commodities are stored at the individual schools instead of a central warehouse. As such, the District has determined that the title to the commodities passes to the District upon receipt of the commodities. The valuation of commodities is based on fair market value at the time of receipt. Since the District has received title to the commodities, the unused commodities are not reflected as unearned revenue.
The District did not fund any subrecipients.