Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Montana Legal Services Association (MLSA) for the year ended December 31, 2023 and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations-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 MLSA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of MLSA. Expenditures are reported on the accrual basis of accounting which is the same method used to prepare the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: MLSA has not elected to use the de minimis rate of 10% provided for by 2 CFR 200.414(f). MLSA is using an approved rate, subject to the terms of individual grant awards.