Audit 329557

Title: See coversheet tab for accounting policies Accounting Policies: Basis of Presentation: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Peoria Opportunities Foundation, 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 Peoria Opportunities Foundation, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows.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. Turnstone has elected not to use the 10- percent de minims indirect cost rate allowed under the Uniform Guidance.During the year ended December 31, 2023, Peoria Opportunities Foundation, Inc. did not receive any other Federal assistance other than what is stated above.No other single audits were performed during the year.There were no subreceipients. De Minimis Rate Used: N Rate Explanation: Organization has elected not to use the 10- percent de minims indirect cost rate allowed under the Uniform Guidance. See coversheet tab for accounting policies