Audit 354981

Title: Summary of Significant Accounting Policies Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Nevada Legal Services, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2024. The information in this schedule 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. For cost reimbursement grants, federal awards are considered expended when the transactions occur. For program income, federal awards are considered expended when funds are received or used. Indirect Cost Rate The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Nevada Legal Services, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2024. The information in this schedule 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. For cost reimbursement grants, federal awards are considered expended when the transactions occur. For program income, federal awards are considered expended when funds are received or used. Indirect Cost Rate The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.