Audit 323246

Accounting Policies: 1. Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal award activity of Turning Point SOC, Inc. and is presented on the accrual basis of accounting. 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 Turning Point SOC, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Turning Point SOC, Inc. 2. Summary of Significant Accounting Policies Expenditures reported on 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. 3. Pass Through Turning Point SOC, Inc. does not pass-through any federal awards to sub-recipients. 4. Loans and Loan Guarantees Turning Point SOC, Inc. does not have any loans or loan guarantees from federal awards. De Minimis Rate Used: N Rate Explanation: Turning Point SOC, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.