Title: Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Organizations" and/or the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: TG 306, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("Schedule") includes the federal
award activity of TG 306, Inc., HUD Project No. TX590025016, under programs of the federal
government for the year ended December 31, 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
TG 306, Inc., it is not intended to and does not present the financial position, changes in net assets,
or cash flows of TG 306, Inc. For the year ended December 31, 2023, no awards were passed
through to subrecipients.
Title: Mark-to-Market Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Organizations" and/or the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: TG 306, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The Mark-to-Market program consists of a mortgage restructuring note. The following schedule
reconciles expenditures per the Schedule to the note payable reported in the financial statements.
Federal Assistance
Listing Number Program Name
Outstanding
Loan Balance at
December 31,
2023
14.197 HUD Multi-Family Assisted Housing Reform &
Affordability Act mark-to-market program, mortgage
restructing note $ 825,016
Less: discount (364,073)
Estimated Net Present Value of the Note Payable $ 460,943
Title: United States Department of Housing and Urban Development Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in OMB Circular
A-122, "Cost Principles for Non-Profit Organizations" and/or the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: TG 306, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The Corporation has received a U.S. Department of Housing and Urban Development pass-through
loan from the HOME Investment Partnership Program. The loan balance outstanding at the end of
the year is included in the federal expenditure presented in the above Schedule. The Corporation
received no additional loans during the year. The balance of the loan outstanding at December 31,
2023 consists of:
Federal Assistance
Listing Number Program Name
Outstanding
Loan Balance at
December 31,
2023
14.239 Home Investment Partnership Program (TDHCA) $ 1,864,845