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 the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
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 the federal grant activity of River Bend Food Reservoir d/b/a River Bend Food Bank (a not-for-profit organization) (the "Organization") under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on 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. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the schedule are reportedon 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. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
Title: Assistance Provided to Subrecipients
Accounting Policies: Expenditures reported on 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. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Non-monetary assistance is reported in the Schedule at the fair value of commodities. Of the federal expenditures presented in the Schedule, the Organization provided nonmonetary federal awards to subrecipients as follows: See the Notes to the SEFA for table. No monetary federal awards were provided to subrecipients.
Title: Inventory
Accounting Policies: Expenditures reported on 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. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Government commodities stated at fair value included in inventory at June 30, 2023 are as follows: See the Notes to the SEFA for table.
Title: Federal Insurance and Loan Programs
Accounting Policies: Expenditures reported on 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. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Organization had no federal insurance programs in effect and no loan or loan guarantee programs outstanding during the year ended June 30, 2023.
Title: Relationship to Basic Financial Statements
Accounting Policies: Expenditures reported on 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. The Organization elected to use the 10 percent de minimis indirect cost rate for fiscal year 2023. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Federal awards included in the accompanying Schedule excluding federal awards of food commodities are reported as government grants support and revenue in the Organization's basic financial statements. Federal awards of food commodities included in the accompanying Schedule are reported as consumable product donations/receipts support and revenue in the Organization's basic financial statements.