Title: Basis of Presentation
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from ECFH during fiscal year 2024.
De Minimis Rate Used: N
Rate Explanation: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from ECFH during fiscal year 2024.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
Title: Summary of Significant Policies
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from ECFH during fiscal year 2024.
De Minimis Rate Used: N
Rate Explanation: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from ECFH during fiscal year 2024.
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Subrecipient Pass Through
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from ECFH during fiscal year 2024.
De Minimis Rate Used: N
Rate Explanation: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of ECFH under programs of the federal government for the year ended May 31, 2024. The
information in the SEFA 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 SEFA presents only a selected
portion of the operations of ECFH, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of ECFH.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement. ECFH has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from ECFH during fiscal year 2024.
No entities received pass through federal awards from ECFH during fiscal year 2024.