Nonprofit School Food Service Account definition

Nonprofit School Food Service Account means the restricted ac- count in which all the revenue from all food service operations con- ducted by the SFA principally for the benefit of school children is retained and used only for the operation or improvement of the nonprofit school food service.
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Nonprofit School Food Service Account means the account in which all revenue from all food service operations conducted by the Sponsor is held and all revenue is used solely for the operation or improvement of such food services.
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Nonprofit School Food Service Account means the account in which all revenue from all food service operations
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Examples of Nonprofit School Food Service Account in a sentence

  • Maintenance of the Nonprofit School Food Service Account – Revenues and expenses are in accordance with Federal regulation, expenses are necessary, reasonable, and allocable and used only for the operation and improvement of the school food service.

  • The State Agency (SA) cannot verify the SFA's compliance with the Nonprofit School Food Service Account (NSFSA) requirements.

  • The SA cannot verify the SFA's compliance with the Nonprofit School Food Service Account (NSFSA) requirements.

  • USDA policy SP 20-2016 Nonprofit School Food Service Account Non-program Food Revenue Requirements further clarifies the requirements for calculating the non-program foods requirement and defines the minimum amount of time to collect revenue and expenditure data as 5 consecutive operating days.

  • For more information, see SP 13- 2014: School Food Service Account Revenue from the Sale of Non-Program Foods, December 12, 2013, http://www.fns.usda.gov/school-food-service-account-revenue- sale-nonprogram-foods and SP 20-2016: Nonprofit School Food Service Account Nonprogram Food Revenue Requirements, December 23, 2015, http://www.fns.usda.gov/nonprofit-school-food-service-account-nonprogram-food- revenue-requirements.

  • Nonprofit School Food Service AccountBased on the Resource Management Questionnaire, the SFA triggered for a comprehensive review of the Nonprofit School Food Service Account.

  • The SFA will not pay unallowable expenses from the SFA’s Nonprofit School Food Service Account.

  • Validation of SFA compliance with overall financial health of the school food service account Finding Detail: The School Food Authority (SFA) did not properly record State and Federal reimbursements to the Nonprofit School Food Service Account (NSFSA) during the 2018-2019 School Year (SY).

  • Nonprofit School Food Service Account Technical Assistance:Annual Financial Report (AFR)● All revenues (reimbursements and student payments) and expenses (including food, labor, equipment, purchased services, and the other category) need to be separated into each program; this will aid the school in calculating its “yearly” reference period for nonprogram food compliance which is highly recommended.

  • For a more comprehensive overview, see SP 23-2017: Unpaid Meal Charges Guidance: https://dpi.wi.gov/sites/default/files/imce/school-nutrition/pdf/sp-23-2017.pdfo Best Practiceso Local meal charge policy checklisto Sample outstanding balance lettero Sample robo-call scriptFindings and Corrective Action Needed: Nonprofit School Food Service Account ❑ Finding #1: On the Annual Financial Report, all of the expenses were not separated out by individual programs.


More Definitions of Nonprofit School Food Service Account

Nonprofit School Food Service Account means the restricted account in which all of the revenue from all food service operations conducted by the SFA principally for the benefit of school children is retained and used only for the operation or improvement of the nonprofit school food service…” 4 ModulesMAINTENANCE OF THE NONPROFIT SCHOOL FOOD SERVICE ACCOUNT Separate Food Service Account: • What is a “separate food service account”?• Examples:• Separate food service fund• Separate food service bank account used for all food service transactions.• Separate revenue & expense codes and you track any carryover profit (if any) 4 ModulesMAINTENANCE OF THE NONPROFIT SCHOOL FOOD SERVICE ACCOUNT Separate Food Service Account: • Food service fund(s)• Fund accounting: segregated for a specific purpose (NSLP), self balancing set of accounts (debits & credits), identified with a fund number• May include multiple CNPs (NSLP, SFSP, CACFP) and/or multiple funds• Type of fund = “Special Revenue Fund”• Food service financial reports, including a Balance Sheet or Statement of Financial Position that shows ending fund balance4 ModulesMAINTENANCE OF THE NONPROFIT SCHOOL FOOD SERVICE ACCOUNTFund Balance: 4 ModulesMAINTENANCE OF THE NONPROFIT SCHOOL FOOD SERVICE ACCOUNT Separate Food Service Account: • Separate Food Service Bank Account(s)• All food service transactions must be run through the FS bank account.• If not, then the ending bank balance does not match the ending food service balance, and you would have to manually track the ending balance each year.• School-wide Balance Sheet with an asset line for the FS cash account• Must also track FS revenues & expenditures in separate accounting codes 4 ModulesFund Balance:MAINTENANCE OF THE NONPROFIT SCHOOL FOOD SERVICE ACCOUNT 4 Modules
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Nonprofit School Food Service Account means the same as the term is defined in 7 CFR 210.12
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Nonprofit School Food Service Account means the restricted account in which all of the revenue from all food service operations conducted by the school food authority principally for the benefit of school children is retained and used only for the operation or improvement of the nonprofit school food service. This account shall include, as appropriate, non-Federal funds used to support paid lunches as provided in §210.14(e), and proceeds from nonprogram foods as provided in §210.14(f)" 7 CFR 210.14 states in part:
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Related to Nonprofit School Food Service Account

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