financial management information system - National Food Service ...

S ECTION 3SUPPLEMENTAL S CHEDULESBeginning InventoryDefinitionsPurchased FoodDonated CommoditiesThis refers to the value of the food inventory at the beginning of the month.Food ReceivedThis is the category for the dollar value of raw foods, prepared foods, oils, spices, condiments, and other edible goodsreceived for the foodservice program during the accounting period. If schedule E-5 is used, the category includes bothpurchased food and donated commodities.Ending InventoryThis refers to the value of the food inventory at the end of the month. If the school district is calculating a single inventory,the value includes both purchased food and donated commoditiesCompany RebatesThis item refers to money received from a company as an incentive to use a product. If the rebate is received during the yearin which the food is purchased, it is recorded as a reduction to food cost. Rebates from the prior school year are recorded asrevenue.Commodity Processing FeesThese are fees paid to commercial food processors for processing USDA commodity foods into more convenient forms. Theydo not include the value of the donated commodity food.Commodity Distribution ChargeThese charges are assessed by the state for storage and transportation of donated commodities, and for administration ofcommodity distribution.Beginning Commodity InventoryThis is the value of donated commodities in storage at the beginning of the month.Value of Commodities ReceivedThis is the assigned value by USDA for donated commodity items received during the accounting period.Ending Commodity InventoryThis is the value of donated commodities in storage at the end of the month.N ATIONAL F OOD S ERVICE M ANAGEMENT I NSTITUTE 54