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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

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Reporting Requirements for Annual Financial Reports of State Agencies and Universities

Pass-Through Activity

Special Conditions
Food Benefits

The Supplemental Nutrition Assistance Program (SNAP), ALN 10.551, provides nutrition education and assistance in the form of monthly benefits for the purchase of food at eligible retailers.

  • According to GASB 24, distributions of food benefits must be recognized as revenue and expenditures, regardless of whether the agency distributes the benefits directly or through agents and regardless of whether the benefits are in paper or electronic form.
  • Expenditures and revenue are recognized when the benefits are distributed to the individual recipients.
  • Agencies report food benefit balances held by the agency or by their agents at the balance sheet date as an asset offset by unearned revenue.