Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following, as applicable, either the cost principles in OMBCircular A-122, Cost Principles for Non-Profit Organizations, or the cost principles containedin Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. For certain FederalAwards, Second Harvest North Central Food Bank has elected to use the 10% de minimisindirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of Second Harvest North Central Food Bank under programs of thefederal government for the year ended December 31, 2022. The information in thisSchedule is presented in accordance with the requirements of 2 CFR Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of Second Harvest North Central Food Bank, it is not intended to and does notpresent the financial position, changes in net assets, or cash flows of Second Harvest NorthCentral Food Bank.