Notes to SEFA
Title: PURPOSE OF THE SCHEDULE
Accounting Policies: The information presented in the Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, which is consistent with the reporting in the Legal Services for the Elderly, Inc.’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate.
The Uniform Guidance requires a Schedule of Expenditures of Federal Awards showing total expenditures for each federal award program as identified in the Catalog of Federal Domestic Assistance (CFDA).
Title: SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The information presented in the Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, which is consistent with the reporting in the Legal Services for the Elderly, Inc.’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate.
A. Reporting Entity – The accompanying schedule includes all federal award programs of Legal Services for the Elderly, Inc. for the fiscal year ended September 30, 2023. The reporting entity is defined in the notes to financial statements of Legal Services for the Elderly, Inc.
B. Basis of Presentation – The information in the accompanying schedule of expenditures of federal awards is presented in accordance with the Uniform Guidance.
1. Pursuant to the Uniform Guidance, federal awards are defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or direct appropriations.
2. Major Programs – The Uniform Guidance establishes the level of expenditures or expenses to be used in defining major federal award programs. Major programs for Legal Services for the Elderly, Inc. are identified in the summary of auditors’ results in the Schedule of Findings and Questioned Costs.
C. Basis of Accounting – The information presented in the Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting, which is consistent with the reporting in the Legal Services for the Elderly, Inc.’s financial statements.
D. Indirect Cost Rate – The Organization has not elected to use the 10% de minimis indirect cost rate.
E. Donated Personal Protective Equipment (PPE) – The Organization received no donations of federally funded PPE during the year ended September 30, 2023.