Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of CAPSBC under programs of the federal government for the year ended December 31, 2025. The information 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 CAPSBC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CAPSBC. Expenditures reported in the schedule are reported on the accrual basis of accounting, except for subrecipient expenditures, which are recorded on the cash basis. However, there may be variances between amounts reported in the statement of activities due to audit adjustments, and when applicable, in accordance with cost principles under Uniform Guidance, certain types of expenditures are not allowable or are limited as to reimbursement.
CAPSBC has not elected to use the 15% de minimis cost rate.
Nonmonetary assistance is reported on the schedule at the fair market value of the commodities received and disbursed. At December 31, 2025, CAPSBC had food commodities totaling $1,396,198 in inventory.