Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Acadiana Legal Service Corporation and is presented on the accrual basis of accounting. Grant revenues are recorded, for financial reporting purposes, when Acadiana Legal Service Corporation has met the cost of reimbursement or funding qualifications for the respective grants.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the Corporation did not elect to use the 10% de minimis cost rate as covered in §200.414 of The Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Acadiana Legal Service Corporation under programs of the federal governmenet for the year ended December 31, 2023. The information in the schedule of expenditures of federal awards 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 of expenditures of federal awards presents only a selected portion of the operations of Acadiana Legal Service Corporation, it is not included to and does not present the financial position, changes in net assets, or cash flows of Acadiana Legal Service Corporation.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Acadiana Legal Service Corporation and is presented on the accrual basis of accounting. Grant revenues are recorded, for financial reporting purposes, when Acadiana Legal Service Corporation has met the cost of reimbursement or funding qualifications for the respective grants.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the Corporation did not elect to use the 10% de minimis cost rate as covered in §200.414 of The Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Acadiana Legal Service Corporation and is presented on the accrual basis of accounitng. Grant revenues are recorded, for finanical reporting purposes, when Acadiana Legal Service Corporation has met the cost of reimbursement or funding qualifications for the respective grants.
Title: DE MINIMIS COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Acadiana Legal Service Corporation and is presented on the accrual basis of accounting. Grant revenues are recorded, for financial reporting purposes, when Acadiana Legal Service Corporation has met the cost of reimbursement or funding qualifications for the respective grants.
De Minimis Rate Used: N
Rate Explanation: During the year ended December 31, 2023, the Corporation did not elect to use the 10% de minimis cost rate as covered in §200.414 of The Uniform Guidance.
During the year ended December 31, 2023, the Corporation did not elect to use the 10% de minimis cost rate as covered in §200.414 of The Uniform Guidance.