Notes to SEFA
Title: FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance and/or OMB Circular A-87, CostPrinciples for State, Local and Indian Tribal Governments, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Regional School Unit No. 44 has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
The Regional School Unit No. 44 reports commodities consumed on the Scheduleat the fair value (or entitlement value). The Government allocated donated foodcommodities to the respective program(s) that benefitted from the use of those donated971. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule)includes the federal award activity of the Regional School Unit No. 44 under programs ofthe federal government for the year ended June 30, 2022. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the Regional School Unit No. 44, itis not intended to and does not present the financial position, changes in net position orcash flows of the Regional School Unit No. 44.2. Summary of Significant Accounting Policiesa. Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance and/or OMB Circular A-87, CostPrinciples for State, Local and Indian Tribal Governments, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.b. The Regional School Unit No. 44 has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.3. Food Donation ProgramThe Regional School Unit No. 44 reports commodities consumed on the Scheduleat the fair value (or entitlement value). The Government allocated donated foodcommodities to the respective program(s) that benefitted from the use of those donatedfood commodities. At June 30, 2022, the Unit had no food commodities in inventory.