Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule” ) includes the federal award activity of the Legal Services of the Virgin Islands, Inc. (LSVI) 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) and the Compliance Supplement for Audits of LSC Recipients. Because the Schedule presents only a selected portion of the operations of LSVI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of LSVI.
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 and the Compliance Supplement for Audits of LSC Recipients wherein certain types of expenditures are not allowable or are limited as to reimbursement
LSVI has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.