Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the schedule) arereported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certaintypes of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 882100.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the schedule) arereported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certaintypes of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule includes the federal award activity of CenterPointe, Inc. andControlled Organization under programs of the federal government for the year ended June 30,2022. The information in this schedule is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because theschedule presents only a selected portion of the operations of CenterPointe, Inc. and ControlledOrganization, it is not intended to and does not present the financial position, change in netposition, or cash flows of CenterPointe, Inc. and Controlled Organization.
Title: EMPLOYER IDENTIFICATION NUMBERS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the schedule) arereported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certaintypes of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule includes the activities of CenterPointe Housing Corporation I, EIN#20-5966956 and CenterPointe, Inc., EIN #47-0550702.
Title: FEDERAL PORTION OF GRANT INCOME
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the schedule) arereported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certaintypes of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CenterPointe, Inc. and Controlled Organization does not distinguish between federal and nonfederalrevenue on the consolidated statement of activities. Revenue from multiple sources isconsolidated for financial statement presentation. The calculation of the federal amounts offunding for proper presentation in the Schedule of Expenditures of Federal Awards (SEFA) areas follows:Department of HUD grants $ 817,632USDA grants 78,966Department of Justice grants 94,184Department of HHS grants 2,445,600Department of Treasury grants 56,870Total federal portion of grant income 3,493,252Non-federal portion 2,073,104Total grant revenue $ 5,566,356Coronavirus State and Local Fiscal Recovery Funds $ 2,677,799Total federal portion of SSP campaign income 2,677,799Non-federal portion 7,391,653Total SSP campaign revenue $ 10,069,452
Title: RECONCILIATION OF SEFA TO THE FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the schedule) arereported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certaintypes of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following schedule ties to the federal awards as stated on the SEFA schedule to theconsolidated financial statements:Balance of HUD Mortgage loan as stated in SEFAfoonote 4 $ 882,100Provider relief funds received in prior fiscal year 76,786Federal portion of grant income as noted in SEFAfootnote 6 3,493,252Federal portion of SSP campaign as noted in SEFAfootnote 6 2,677,799$ 7,129,937