Audit threshold definition

Audit threshold means the threshold amount used to determine when a State single audit or a project-specific audit of a nonstate entity shall be conducted in accordance with Section 215.97, Florida Statutes. Each nonstate entity that expends a total amount of State financial assistance equal to or in excess of
Audit threshold means the threshold amount used to determine when a state single audit or project-specific audit of a nonstate entity shall be conducted in accordance with this section. Each nonstate entity that expends a total amount of state financial assistance equal to or in excess of $750,000 in any fiscal year of such nonstate entity shall be required to have a state single audit, or a project-specific audit, for such fiscal year in accordance with the requirements of this section. Every 2 years the Auditor General, after consulting with the Executive Office of the Governor, the Department of Financial Services, and all state awarding agencies, shall review the threshold amount for requiring audits under this section and may adjust such threshold amount consistent with the purposes of this section.
Audit threshold means the amount to use in determining when a state single audit of a nonstate entity shall be conducted in accordance with

Examples of Audit threshold in a sentence

  • Subrecipients who do not meet the Single Audit threshold are required to have a program-specific Coronavirus Relief Funds audit conducted in accordance with § 200.507 - Program-Specific Audits and may be required to submit such copy of that audit to Cook County.

  • An Applicant organization that does not exceed the required Single Audit threshold in federal expenditures is exempt from federal single audit requirements; however they are still required to submit audited financial statements as part of the Application.

  • Entry into the Grant Tracker module is critical to the State’s compliance with the Federal requirement to track and review Single Audits for all subrecipients triggering the Single Audit threshold in a given fiscal year.

  • The purpose of this Chapter is to clarify Medicaid reimbursements as Federal funds, State/local match, Fund 260, and Schedule of Expenditures of Federal Awards (SEFA) and the Single Audit threshold.

  • If Contractor does not meet the Single Audit threshold of $750,000, County may require Contractor to submit other forms of audits and/or financial reviews regarding costs and expenses under the contract.

  • During the site visit to a subrecipient, review the back-up documentation for at least one invoice to the recipient to ensure that the subrecipient is using the approved rate.• Verify whether the subrecipient’s expenditures exceeded the $750,000 Single Audit threshold.

  • Audit threshold for Federal expenditures is $750,000 or more per year.

  • Financial Statement audit requirement threshold remains at $100,000 or greater of combined federal and State expenditures for recipients not meeting Single Audit threshold.

  • HUD may require the Recipient to complete a Program-Specific Audit, if the Recipient does not meet the Single Audit threshold requirements of 2 CFR part 200 subpart F or if the Single Audit does not include 14.259 as a major program.

  • If Contractor does not meet the Single Audit threshold of $500,000, County may require Contractor to submit other forms of audits and/or financial reviews regarding costs and expenses under the contract.


More Definitions of Audit threshold

Audit threshold means the threshold amount used to determine when a State single audit or a project-specific audit of a nonstate entity shall be conducted in accordance with Section 215.97, Florida Statutes. Each nonstate entity that expends a total amount of State financial assistance equal to or in excess of $750,000 in any fiscal year of such nonstate entity is required to have a State single audit, or a project-specific audit, for such fiscal year in accordance with the requirements of Section 215.97, Florida Statutes (Section 215.97(2)(a), Florida Statutes)

Related to Audit threshold

  • Bid threshold means the dollar amount set in N.J.S.A. 18A:18A-3, above which a Board shall advertise for and receive sealed bids in accordance with procedures set forth in N.J.S.A. 18A:18A-1 et seq.

  • Minimum Threshold means the average daily yield on the 10 Year Treasury Note (as reported in the Bloomberg GT10 index) over the Award Period.

  • Stated Threshold means total losses under the shared loss agreements in the amount of $41,000,000.00.

  • Minimum Takedown Threshold shall have the meaning given in Section 2.1.4.

  • Alteration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Indemnity Threshold has the meaning set forth in Section 9.3.

  • Restoration Threshold means an amount equal to 5% of the outstanding principal amount of the Loan.

  • Threshold means with respect to Party B: infinity.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Ownership Threshold means, with respect to any Person, Beneficial Ownership of the greater of (A) 15% of the Common Shares at any time outstanding or (B) the percentage of the outstanding Common Shares Beneficially Owned by such Person on the date of this Rights Agreement, plus in the case of this clause (B) 1% of the Common Shares outstanding on such date.

  • Indemnification Threshold has the meaning set forth in Section 11.5.

  • Simplified acquisition threshold means the dollar amount below which a district may purchase property or services using small pur- chase methods. Districts adopt small purchase procedures in order to expedite the purchase of items at or below the simplified acquisi- tion threshold. The simplified acquisition threshold for procurement activities administered under federal awards is set by the FAR at 48 C.F.R. Part 2, Subpart 2.1 [see below]. The district is responsi- ble for determining an appropriate simplified acquisition threshold based on internal controls, an evaluation of risk, and its docu- mented procurement procedures. However, in no circumstances can this threshold exceed the dollar value established in the FAR

  • Micro-purchase threshold means the dollar amount at or below which a district may purchase property or services using micro-pur- chase procedures. Generally, the micro-purchase threshold for pro- curement activities administered under federal awards is not to ex- ceed the amount set by the Federal Acquisition Regulations (FAR) at 48 C.F.R. Part 2, Subpart 2.1 [see below], unless a higher threshold is requested by the district and approved by the cogni- zant agency for indirect costs.

  • Initial Dividend Threshold shall have the meaning specified in Section 14.04(d).

  • management expense ratio means the total fees and expenses a fund paid during a year divided by its average assets for that year.

  • Annual Capital Expenditure Adjustment means, for any retail Property, an amount equal to the product of (a) $0.15 multiplied by (b) the aggregate net rentable area (determined on a square feet basis) of all such Properties.

  • stipulated minimum threshold means that portion of local production and content as determined by the Department of Trade and Industry; and

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Step-Down Amount means, with respect to any Distribution Date, the excess, if any, of (x) the Required Pro Forma Note Balance over (y) the Pro Forma Note Balance on such Distribution Date, calculated for this purpose only without deduction for any Step-Down Amount (i.e., assuming that the entire amount described in clause (x) of the definition of “Principal Distributable Amount” is distributed as principal on the Notes); provided, however, that the Step-Down Amount in no event may exceed the amount that would reduce the positive difference, if any, of (i) the Pool Balance minus (ii) the Pro Forma Note Balance, to an amount less than 0.50% of the initial aggregate principal balance of the Receivables.

  • Independent expenditure means an expenditure by a person:

  • Minimum Funding Amount means, on any date of determination, the amount set forth in the table below: The date that is six months following the Effective Date December 20, 2018 60% of the Financing Commitment December 21, 2018 March 20, 2019 65% of the Financing Commitment March 21, 2019 Day prior to the last day of the Ramp-Up Period 75% of the Financing Commitment The last day of the Ramp-Up Period The last day of the Reinvestment Period 85% of the Financing Commitment

  • Threshold Percentage means 15%.

  • Materiality Threshold means limits for related party transactions beyond which the shareholders' approval will be required as specified in Companies Act, 2013 and rules thereof and amendments thereto.

  • Required Capital Level means an amount of capital equal to 0.5% of the initial principal amount of the Securitization Bonds.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Independent Amount means zero with respect to Party A and Party B.