Notes to SEFA
Title: Per Capita Funds
Accounting Policies: SEFA is prepared on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: ECAC elected to use the 10% de minimis cost rate under Uniform Guidance.
During the fiscal years ended June 30, 2023 and June 30, 2022, ECAC received Federal Awards through ECDC associated with periodic program and administrative costs. Based on program requirements, ECAC has three to six months to spend the funds received upon the clients' enrollment. ECDC continuously monitors spending for each individual client on a monthly basis. The remaining funds covered direct assistance and administrative costs beyond the of the fiscal year ended June 30, 2023. ECAC has been subcontracting with ECDC continuously for the past several decades and has never been required to refund Per Capita Funds.