SY 23-24 Reimbursement Rates Released
The USDA has just announced the updated reimbursement rates for the National School Lunch Program for School Year 23-24. These rates are now in effect as of July 1, 2023. With the expiration of the Keep Kids Fed Act of 2022 occurring on June 30, 2023, the new rates do not include the temporary additional amounts for breakfast and lunch that were provided this past school year. This means that the additional 40 cents per lunch meal and 15 cents per breakfast meal will no longer be provided, bringing reimbursement rates back down to pre-pandemic levels.
The good news is that if you have recently accepted Supply Chain Assistance Funds, those funds may be used to offset increasing food costs. Additionally, the USDA plans to disburse an additional round of Supply Chain Assistance funding totaling $1.2B next year, to continue to provide financial assistance to SFAs facing budgetary cuts. Over the next few weeks our team will work to update client budgets with the new rates to ensure accurate reporting.
To read the full news release click HERE.