Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note A Basis of PresentationThe schedule of expenditures of federal awards includes the federal grant activity of Turning PointFoundation under programs of the federal government for the year ended June 30, 2022. The information inthis schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of the operations of TurningPoint Foundation, it is not intended to and does not present the financial position, changes in net assets, orcash flows of Turning Point Foundation.Note B Summary of Significant Accounting Policies(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, CostPrinciples for Non-profit Organizations, wherein certain types of expenditures are not allowable or arelimited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available.(3) Turning Point Foundation has elected not to use the 10 percent de minimis indirect cost rate as allowedunder the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING PROGRAM (14.235) - Balances outstanding at the end of the audit period were 160207.