Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Fredericksburg Regional Food Bank 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 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 Fredericksburg Regional Food Bank, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Fredericksburg Regional Food Bank.
Nonmonetary assistance is reported in the Schedule at the fair value of the commodities received and disbursed. At June 30, 2025, the Food Bank had food commodities totaling $1,071,817 in inventory related to the federal programs based on the USDA values.
Federal revenues are reported in the audited statements as follows: (see Notes to the SEFA for chart/table)