Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: All federal grant operations of the Board are included in the scope of Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (the Single Audit). The Single Audit was performed in accordance with the
provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance testing of
all requirements, as described in the Compliance Supplement, was performed for the major grant programs
noted below. The programs on the Schedule of Expenditures of Federal Awards represent all federal award
programs with fiscal year 2023, cash or non-cash expenditure activities. For single audit testing, we tested
to ensure coverage of at least 20% of federally granted funds. Actual coverage was 49%.
Expenditures reported on the Schedule of Expenditures of Federal Awards are recognized following
the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein
certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has
elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting
in accordance with accounting principles generally accepted in the United States of America.
The non-cash expenditures of $1,506,498, were reported under Assistance Listing No. 10.555, USDA
Food Distribution Program. These non-cash expenditures represent the value of food commodities
distributed in fiscal year 2023, as calculated using the U.S. Department of Agriculture, Food and Nutrition
Commodity Price List in effect as of July 1, 2023.
Title: RECONCILIATION TO THE BASIC FINANCIAL STATEMENTS
Accounting Policies: All federal grant operations of the Board are included in the scope of Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (the Single Audit). The Single Audit was performed in accordance with the
provisions of the OMB Compliance Supplement (the Compliance Supplement). Compliance testing of
all requirements, as described in the Compliance Supplement, was performed for the major grant programs
noted below. The programs on the Schedule of Expenditures of Federal Awards represent all federal award
programs with fiscal year 2023, cash or non-cash expenditure activities. For single audit testing, we tested
to ensure coverage of at least 20% of federally granted funds. Actual coverage was 49%.
Expenditures reported on the Schedule of Expenditures of Federal Awards are recognized following
the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein
certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has
elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Total expenditures per the Schedule of Expenditures of Federal Awards reconcile to the Board's basic financial statements as follows: