Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Virginia Peninsula Foodbank (the “Foodbank”) 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 the Foodbank, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Foodbank.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed. Distributed food is reported in the Schedule under the Commodity Supplemental Food Program and the Emergency Food Assistance Program and is valued at the weighted-average wholesale value of one pound of donated product based on the national per pound price as provided by the Nation’s Foodbank Network Valuation Study ($1.72 for the year ended June 30, 2025).
Expenditures of federal awards for funds passed through state agencies are based on information provided by the respective agencies. Pass-through entity identifying numbers are presented where available.