Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the federal and grant activity for the Food Center. The reporting entity is defined in Note 1 to the basic financial statements.
The information in the schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of the Food Center, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the general-purpose financial statements.
Basis of Accounting – Expenditures reported on the schedule are reported at the time USDA food commodities are distributed to qualified recipients. The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. The Food Center did not elect to use the 15% de minimis indirect cost rate.
See the Notes to the SEFA for table.