Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activities of the Food Bank and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of the OMB Compliance Supplement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Instead of using the 10% de minimus indirect cost rate allowed under the Uniform Guidance, the Food Banks indirect costs are based on an indirect cost allocation plan that has been agreed upon and approved by the applicable grantor.