Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title U.S. Code of Federal Regulations (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Non-monetary assistance is reported in the schedule at the fair market value at the time of donation of the commodities disbursed. The value per pound used to determine the fair market value is the value provided by the pass-through agency. As of June 30, 2024, the Organization had federally funded food commodities totaling $576,165 in inventory.