Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Roadrunner Food Bank, Inc. (RRFB) under programs of the federal government for the year ended June 30, 2025. Because the Schedule presents only a selected portion of the operations of RRFB, it is not intended to and does not present the financial position, changes in net assets, or cash flows of RRFB.
Non‐cash assistance recorded in the Schedule consists of food commodities donated by the USDA (The Emergency Food Assistance Program, or TEFAP, ALN 10.569) and passed through the New Mexico Health Care Authority to RRFB. The donated food commodities are valued at the estimated fair value of $1.72 per pound (as valued by Feeding America). RRFB’s accounting policy for donated inventories is more fully described in Note 2 to the consolidated financial statements and follows accounting principles generally accepted in the United States of America. All food commodities reported in the Schedule are further passed through from RRFB to subrecipients (emergency food pantries, group homes, low‐income day care centers, shelters, and soup kitchens). Donated food commodities inventory at June 30, 2025 is reported in the consolidated financial statements (Note 5) at $1,452,107 using an estimated fair value of $1.72 per pound.
The following is a reconciliation of the expenditures reported in the Schedule to the federal and state grants revenue and federal donated food commodities revenue reported in the consolidated financial statements: Donated food commodities - TEFAP $23,447,793 Other federal grant expenditures 2,436,267 Total expenditures of federal awards 25,884,060 Other nonfederal grant expenditures 4,767,710 Transformation of donated food commodities 400,221 Increase in donated food commodities inventory 444,624 Total federal and state grant revenues and federal donated food commodities reported in the consolidated financial statements $31,496,615