Notes to SEFA
Accounting Policies: NOTE A Basis of PresentationThe accompanying schedule of expenditures of federal awards (the schedule) includes all federal grant activity of Farmers Market Fund under programs of the federal government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Farmers Market Fund, it is not intended to and does not present the financial position, changes in net assets or cash flows of Farmers Market Fund.NOTE B Summary of Significant Accounting PoliciesExpenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following Uniform Grant Guidance cost principles wherein certain types of expenditures are not allowable or are limited as to reimbursement.NOTE D Assistance Listings (AL)AL numbers reported in the accompanying Schedule of Expenditures of Federal Awards are based on sam.gov.
De Minimis Rate Used: Y
Rate Explanation: Farmers Market Fund is using the 10 percent de minimis cost rate.