Southern Regional Technical College Foundation Inc.

“Part v, line 4: there is a fund established at the community foundation of southwest georgia, n. Broad st., thomasville, ga. The fund grants community foundation variance power. The future distribtuions are available by application to the foundation to be used for needs of the southern regional technical college foundation.part x, line 2: the organization has implemented the accounting requirements associated with uncertainty in income taxes using the provisions of fasb asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for derecognition, classification, interest and penealties, accounting in interim periods, disclosure and transition. As of june 30, 2020 and 2019, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements.the organization is generally no longer subject to examination by the u.s. Federal tax authority for years before 2017.”

“The Foundation has implemented the accounting requirements associated with uncertainty in income taxes using the provisions of FASB ASC 740, Income Taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not the positions will be sustained upon examination by the tax authorities. It also provides guidance for de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of June 30, 2020 and 2019, the Foundation has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The Foundation is generally no longer subject to examination by the U.S. federal tax authority for years before 2017.”