Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal award activity of TurningPoint SOC, Inc. and is presented on the accrual basis of accounting. The information in this Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of Southview Courts, Inc., itis not intended to and does not present the financial position, changes in net assets, or cash flows of SouthviewCourts, Inc.2. Summary of Significant Accounting PoliciesExpenditures 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 ofexpenditures are not allowable or are limited as to reimbursement.3. Pass ThroughTurning Point SOC, Inc. does not pass-through any federal awards to sub-recipients.4. Loans and Loan GuaranteesTurning Point SOC, Inc. does not have any loans or loan guarantees from federal awards.5. Indirect Cost RateTurning Point SOC, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.