Audit 46786

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of EastPoint Academy (the "Academy") under programs of the federal government for the year ended June 30, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) 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 the Academy, it is notintended to and does not present the financial position, change in net position, or cash flows of the Academy.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are notallowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.The Academy has a restricted indirect cost rate that is used for its federal programs and did not use the 10% de Minimisindirect cost rate allowed under the Uniform Guidance and covered in 2 CFR Part 200.414. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 9834526. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 9737154. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 4426961. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 4765783.