Stillpoint School

“Item G, Accounting Method, and Item 20, Other Changes in Fund Balance Stillpoint School uses cash accounting. However, its investment portfolio is in a Schwab/Merriman investment account, which reports value as market value, not cash value. For Part II, Line 22, Cash, savings, and investments, we used the Schwab account valuation, which includes unrealized gains and losses. The amount in Line 20 thus includes net unrealized gains and losses, which are included in Line 22, but are not included in the cash basis income and expense for the year reported in Line 18.”

“Item G< Accounting Method, and Item 20 Other Changes in Fund Balance Stillpoint School uses cash accounting. However, its investment portfolio is in a Schwab/Merriman account, which reports value as a market value. For Part II, Line 22 Cash, savings, and investments, we have used the Schwab/Merriman account valuation, which includes unrealized gains and losses. The amount in Line 20 thus includes net unrealized gains and losses, which are included in Line 22, but are not included in the cash basis income and expense or deficit for the year as reported in Line 18.”

“Start-up financing provided by two directors for initial premises rental, purchase of equipment and supplies, and working capital. Loans are non-interest bearing, were approved by a vote of the Board of Directors at a meeting in which both lenders excused themselves, and are evidenced by a written agreement. No security was provided by the school”