Notes to SEFA
Title: Housing and Urban Development HOME Funds
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Triumph Treatment Services under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Triumph Treatment Services, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Triumph Treatment Services.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following 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: The Organization has elected not to use the de‐minimis indirect cost rate.
The expenditures shown consist of loan funds received and expended in prior years. The total balance of the loan outstanding was $252,846 at both June 30, 2023 and 2022.