Audit 49208

Title: Loan/loan guarantee outstanding balances Accounting Policies: 1. General Information:The accompanying schedule of expenditures of federal, state and local awards presents the activities in all federal, state and local award programs of Prevention Point Philadelphia, Inc. All financial assistance received directly or indirectly from federal agencies as well as financial assistance passed through other governmental agencies or not-for-profit organizations are included on the schedule.2. Basis of Accounting:The accompanying schedule of expenditures of federal, state and local awards is presented using the accrual basis of accounting. The amounts may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either a cash or modified accrual basis.3. Relationship to Basic Financial Statements:Federal, state and local award expenditures are reported on the statement of activities as government contracts. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported on the schedule of federal, state and local awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal, state or local awards. 4. Cost Allocations:Prevention Point Philadelphia, Inc. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. DISASTER ASSISTANCE LOANS (59.008) - Balances outstanding at the end of the audit period were 499900.