Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of ECDI under programs of the federal government for the year ended June 30, 2023 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 ECDI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ECDI.
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: ECDI has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of ECDI under programs of the federal government for the year ended June 30, 2023 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 ECDI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ECDI.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of ECDI under programs of the federal government for the year ended June 30, 2023 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 ECDI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ECDI.
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: ECDI has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under Uniform Guidance.
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 allowed or are limited as to reimbursement.
ECDI has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under Uniform Guidance.
Title: Federal Loan Balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of ECDI under programs of the federal government for the year ended June 30, 2023 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 ECDI, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ECDI.
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 allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: ECDI has elected to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under Uniform Guidance.
Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the schedule. The balances of loans outstanding at June 30, 2023 consist of the following: