Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “schedule”) are
reported on the accrual basis of accounting. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CenterPointe, Inc. and Controlled Organization has not elected to use the 10% de minimis cost
rate as allowed under Uniform Guidance.
The accompanying schedule includes the federal award activity of CenterPointe, Inc. and
Controlled Organization under programs of the federal government for the year ended June 30,
2023. The information in this schedule is presented in accordance with the requirements of Title
2 U.S. Code of Federal Regulations Part 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 CenterPointe, Inc. and Controlled
Organization, it is not intended to and does not present the financial position, change in net
position, or cash flows of CenterPointe, Inc. and Controlled Organization.
Title: LOAN PROGRAMS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “schedule”) are
reported on the accrual basis of accounting. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CenterPointe, Inc. and Controlled Organization has not elected to use the 10% de minimis cost
rate as allowed under Uniform Guidance.
The Organization had the following amounts outstanding at June 30, 2023 under federal loan or
loan guarantee programs: SEE THE NTOES TO THE SEFA FOR THE TABLE.
The note bears no interest and repayment is not required so long as the housing remains available
to eligible persons in accordance with the program's requirements.
Title: EMPLOYER IDENTIFICATION NUMBERS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “schedule”) are
reported on the accrual basis of accounting. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CenterPointe, Inc. and Controlled Organization has not elected to use the 10% de minimis cost
rate as allowed under Uniform Guidance.
The accompanying schedule includes the activities of CenterPointe Housing Corporation I, EIN
#20-5966956 and CenterPointe, Inc., EIN #47-0550702.
Title: FEDERAL PORTION OF GRANT INCOME
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “schedule”) are
reported on the accrual basis of accounting. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CenterPointe, Inc. and Controlled Organization has not elected to use the 10% de minimis cost
rate as allowed under Uniform Guidance.
CenterPointe, Inc. and Controlled Organization does not distinguish between federal and nonfederal
revenue on the consolidated statement of activities. Revenue from multiple sources is
consolidated for financial statement presentation. The calculation of the federal amounts of
funding for proper presentation in the Schedule of Expenditures of Federal Awards (SEFA) are
as follows: SEE THE NOTES TO THE SEFA FOR TABLE
Title: RECONCILIATION OF SEFA TO THE FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “schedule”) are
reported on the accrual basis of accounting. Such expenditures are recognized following the cost
principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CenterPointe, Inc. and Controlled Organization has not elected to use the 10% de minimis cost
rate as allowed under Uniform Guidance.
The following schedule ties to the federal awards as stated on the SEFA schedule to the
consolidated financial statements: SEE NOTES TO THE SEFA FOR TABLE.