Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Elder Law of Michigan, Inc. and Elder Law of Michigan Pooled Account Trust 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 Elder Law of Michigan, Inc. and Elder Law of Michigan Pooled Account Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of Elder Law of Michigan, Inc. and Elder Law of Michigan Pooled Account Trust.
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 Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Elder Law of Michigan, Inc. and Elder Law of Michigan Pooled Account Trust has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or before September 30, 2024 and also has not elected to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024.
The following summary reconciles total federal awards with the audited financial statements for the year ended December 31, 2024: