Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Community Food Bank of Victoria (the Food Bank) under programs of the federal government for the year ended December 31, 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 Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Food Bank, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Food Bank. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity indentifying numbers are presented where available.
The Food Bank has not elected to use the 15% de minimis indirect cost rate as allowed under the Uniform Guidance.
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. As of December 31, 2025, the Food Bank had $1,001,762 of USDA TEFAP and CSFP commodities in inventory.