Single Audit Requirements definition

Single Audit Requirements. For audits of fiscal years beginning on or after December 26, 2014, recipients that expend $750,000 or more from all federal funding sources during their fiscal year are required to submit an organization-wide financial and compliance audit report. The audit must be performed in accordance with the requirements of GAO’s Government Auditing Standards, located at ▇▇▇▇://▇▇▇.▇▇▇.▇▇▇/govaud/ybk01.htm, and the requirements of Subpart F of 2 C.F.R. Part 200, located at ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/cgi-bin/text-idx?SID=63811dc3410c008e2f8e28c325cdc09e&mc=true&node=sp2.
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Examples of Single Audit Requirements in a sentence

  • Grant-funded programs require audits and compliance with federal guidelines pursuant to OMB Uniform Guidance, Subpart F: Single Audit Requirements.

  • If SUBRECIPIENT expends $750,000 or more in federal funds in a fiscal year, it may be subject to Single Audit Requirements in 2 CFR, Part 200, Subpart F – Audit Requirements, at ▇▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/cgi-bin/text-idx?tpl=/ecfrbrowse/Title02/2cfr200_main_02.tpl, and subject to the requirements in the Texas Single Audit Circular, at ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇.▇▇▇/purchasing/docs/ugms.pdf.

  • Any grantee expending $750,000 or more in federal funds in a fiscal year may be subject to Single Audit Requirements in 2 CFR, Part 200, Subpart F – Audit Requirements, at ▇▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/cgi-bin/text- idx?tpl=/ecfrbrowse/Title02/2cfr200_main_02.tpl.

  • The Jurisdiction understands that the expenditure of PI is covered under the OMB A-133 Single Audit Requirements and will meet all these requirements and report said PI Expenditure along with grant funds each fiscal year.

  • Federal Single Audit Requirements for State Administered Federally Aid Funded Projects Only.

  • The SSCC will submit an annual financial and compliance audit of The SSCC's fiscal year in accordance with Single Audit Requirements of OMB Circular A-133 (Audits of State, Local Government, and Non-Profit Organizations) and Texas Uniform Grant Management Standards.

  • If applicable, Provider will submit an annual financial and compliance audit of Provider's fiscal year in accordance with Single Audit Requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance), and Texas Uniform Grant Management Standards.

  • All applicants (Sub-recipients) receiving financial assistance from the FEMA must comply with 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Subpart F – Single Audit Requirements and Audit Follow-up pursuant to Single Audit Act Amendments of 1996 (31 USC 7501- 7507).

  • If applicable, Contractor will submit an annual financial and compliance audit of Contractor's fiscal year in accordance with Single Audit Requirements of OMB Circular A-133 (Audits of State, Local Government, and Non-Profit Organizations) and Texas Uniform Grant Management Standards.

  • Any grantee expending more than a certain level of federal funds in a fiscal year are subject to Single Audit Requirements in 2 CFR, Part 200, Subpart F – Audit Requirements, at ▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/cgi- bin/text-idx?tpl=/ecfrbrowse/Title02/2cfr200_main_02.tpl.