Notes to SEFA
The accompanying schedule of expenditures of federal, state, and city awards includes federal, state, and city grant activity of Turning Points for Children for the year ended June 30, 2024. All financial assistance received directly from federal agencies, as well as financial assistance passed through other governmental agencies or non-profit organizations are included on the schedule of expenditures of federal, state and city awards. The information in this schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations ("CFR") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the "Uniform Guidance") and the City of Philadelphia Subrecipient Audit Guide. Because the schedule presents only a selected portion of the operations of Turning Points for Children, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Turning Points for Children. Therefore, some amounts presented in this schedule may differ from amounts presented or used in the preparation of the basic financial statements.
Expenditures reported on the schedule are reported using the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America and may differ from certain financial reports submitted to other federal, state, and city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
Turning Points for Children does not have a federally negotiated indirect cost rate and has elected to use the 10% de minimus indirect cost rate as covered in section 200.414 in the Uniform Guidance.
For the year ended June 30, 2024, Turning Points for Children had one subrecipient.