Notes to SEFA
Title: DONATED FOOD AND COMMODITIES DISTRIBUTED
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes all federal award activity for Community Food Bank of Central Alabama (the "Organization") under programs of the federal government for the year ended December 31, 2022. The information in the 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 (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of the Organization. Expenditures reported in 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 identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance in the form of food and commodities are reported in the Schedule at the fair market value, as determined by USDA pricing. The average value of TEFAP and CSFP products was $1.48 and $1.92, respectively.