Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. The Legal Service Corporation – Basic Field Grant details $6,769,289 of current period expenditures. These expenditures are presented net of the spending of derivative income due to interest of $22,989 and attorney fees of $350.
De Minimis Rate Used: N
Rate Explanation: Lakeshore Legal Aid elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lakeshore Legal Aid 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 Lakeshore Legal Aid, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lakeshore Legal Aid.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. The Legal Service Corporation – Basic Field Grant details $6,769,289 of current period expenditures. These expenditures are presented net of the spending of derivative income due to interest of $22,989 and attorney fees of $350.
De Minimis Rate Used: N
Rate Explanation: Lakeshore Legal Aid elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal expenditures reported on the Schedule reconcile to federal revenues included in grants and contracts
in the financial statements as follows: See Notes to the SEFA for chart/table.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. The Legal Service Corporation – Basic Field Grant details $6,769,289 of current period expenditures. These expenditures are presented net of the spending of derivative income due to interest of $22,989 and attorney fees of $350.
De Minimis Rate Used: N
Rate Explanation: Lakeshore Legal Aid elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.