OMB Circular definition

OMB Circular means instructions or information issued by the President’s Office of Management and Budget (“OMB”) to Federal agencies.
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OMB Circular means a publication issued by the OMB that sets forth federal cost accounting or auditing requirements.
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OMB Circular means a publication issued by the OMB that sets forth federal cost accounting or auditing requirements. Pass-Through Entity means an entity (such as DWS) which receives federal funds and then passes those funds through to Subecipients, to carry out a project related to the federal award.
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Examples of OMB Circular in a sentence

  • For fiscal years ending before December 25, 2015, a Single Audit is required if the subrecipient expends $500,000 or more in federal assistance during its fiscal year and must be conducted in accordance with OMB Circular A-133.

  • The determination of amounts of Federal awards expended should be in accordance with the guidelines established by OMB Circular A-133, as revised.

  • Audits will be conducted as provided by the Single Audit Act Amendments of 1996 and OMB Circular A-133.

  • This limitation shall not apply to GRANTEEs providing goods and services as defined in OMB Circular A-133.

  • If GRANTEE expends $750,000 or more in a year in Federal funds, GRANTEE shall submit an audit report that conforms to the requirements of OMB Circular A-133 for Non-Profit Institutions.

  • Other Federal agencies and pass-through entities in accordance with Sections .320 (e) and (f), OMB Circular A-133, as revised.

  • For fiscal years ending before December 25, 2015, a Single Audit is required if the subrecipient expends $500,000 or more in Federal assistance during its fiscal year and must be conducted in accordance with OMB Circular A-133.

  • The parties shall comply with the requirement of the Single Audit Act of 1984, P.L. 98-502, ensuring that the single audit report includes the coverage stipulated in OMB Circular A-133.

  • If Subrecipient expends Federal funds in a fiscal year which equal or exceed $750,000 (seven hundred fifty thousand dollars) as specified in OMB Circular A-133-Revised, 2 CFR Part 200.500- Subpart F-Audit Requirements Subrecipient shall cause an audit to be prepared by a Certified Public Accountant (CPA) who is a member in good standing with the American Institute of Certified Public Accountants (AICPA) of the California Society of CPA’s.

  • Contractor, if a non-profit organization, shall comply with the requirements and standards of OMB Circular No. A- 122, “Cost Principles for Non-Profit Organizations, OMB Circular A-133 Audits of State, Local Governments and Non-Profit Organizations”, and applicable Attachments to OMB Circular No. A-110, as set forth in 24 CFR §570.502(b).