Notes to SEFA
The accompanying schedule of expenditures of federal and state awards includes the federal and state award activity of Food Bank of the Albemarle 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 and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of Food Bank of the Albemarle, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Food Bank of the Albemarle.
Nonmonetary assistance is reported in the schedule at fair market value of the commodities received and distributed.