Common use of Single Audit Clause in Contracts

Single Audit. The Subrecipient acknowledges that by accepting the Grant, it is a sub-recipient of federal financial assistance under the federal Single Audit Act of 1984, as amended (the “SAA”). The Subrecipient further acknowledges that to the extent it expends an aggregate of $750,000 in federal awards (including, but not limited to the Grant(s)) in a fiscal year, it will be subject to an audit under the SAA and its implementing regulations at 2 CFR Part 200, Subpart F.

Single Audit. The Subrecipient Sub‐recipient acknowledges that by accepting the Grant, Grant(s) it is a sub-recipient sub‐recipient of federal financial assistance under the federal Single Audit Act of 1984, as amended (the “SAA”). The Subrecipient Sub‐recipient further acknowledges that to the extent it expends an aggregate of $750,000 in federal awards (including, but not limited to the Grant(s)) in a fiscal year, it will be subject to an audit under the SAA and its implementing regulations at 2 CFR Part 200, Subpart F.