Audit 39919

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Educational Opportunities for Children and Families and is presented on the accrual basis of accounting, consistent with generally accepted accounting principles. The information in this schedule is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.NOTE 2 MATCHING REQUIREMENTEOCF accounts for the non-federal share requirements by the Department of Health and Human Services through inclusion of in-kind contributions and cash donations received. While some of these contributions are not considered to be in accordance with generally accepted accounting principles (GAAP), management asserts they have been allowable by the granting agency.NOTE 3 MAJOR AND NONMAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMSFederal financial assistance programs with identical assistance (AL) numbers are combined in determining whether the programs are major or nonmajor. Type A federal assistance programs are those with combined expenditures of $750,000 or more during a fiscal year. Type B federal financial assistance programs are those with combined expenditures of less than $750,000 during a fiscal year. De Minimis Rate Used: N Rate Explanation: EOCF has not used the 10% de minimis indirect cost rate under the Uniform Guidance. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 25000. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 20437.