OMB Circular A-133 Audit Sample Clauses

OMB Circular A-133 Audit. If the Contractor is a state or local agency, or non-profit organization including a non-profit institution of higher education (as defined by the Federal Office of Management and Budget [OMB] Circular A-133) and expends $500,000 or more in federal funds, the Contractor agrees to obtain an annual single organization wide, independent audit in accordance with the Federal Office of Management and Budget (OMB) Circular A-133. All OMB Circular A-133 audit reports shall meet the reporting requirements established in OMB § 1101.320 “Report Submission” and a copy shall be forwarded to funding program of DHCS.
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OMB Circular A-133 Audit. The funding for the project under this agreement includes pass-through federal monies from the FHWA. According to the Single Audit Act Amendments of 1996 and the implementing regulations contained in OBM Circular A-133, the A-133 Audit is required if the non-federal entity expends $500,000 or more in total federal awards in a fiscal year. Non-federal entity means state and local governments and non-profit organizations. The LPA shall have its finance officer or auditor; review the situation to determine what the LPA must do to comply with this federal mandate. If an A-133 audit is necessary, the expenditures related to the federal funds expended under this project should be shown in the report’s Schedule of Expenditures of the Federal Awards (SEFA). The Federal award information needed for the SEFA includes:

Related to OMB Circular A-133 Audit

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