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Accounting for the Receipt and Expenditures of Emergency Connectivity Fund (ECF) Funding
“…schools and libraries participating in the Emergency Connectivity Fund Program that meet the thresholds for being audited under the Single Audit Act are subject to a single audit that contains the FCC compliance supplement for the Emergency Connectivity Fund Program.”
ECF funds are administered and paid by the Universal Service Administrative Company (USAC). Therefore, amounts received by districts should be recorded as “Other Revenue – Federal Sources” under Major Class 419, Suffix 0000. Expenditures of ECF funding should be recorded with Grant Code 440 (new). Resource: Michigan Department of Education, Office of Financial Management, Financial Accounting Guidance During the COVIC-19 Pandemic, Last Updated January 21, 2022The materials provided in the News & Insights section are for general informational purposes only and may not reflect the most current legal, tax, or financial developments. While we strive to ensure accuracy at the time of publication, Maner Costerisan does not guarantee that the information remains up-to-date or free from error. We recommend consulting directly with a Maner Costerisan team member to confirm the applicability and relevance of any information to your specific situation.
