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.

Related to Single Audit Requirements

  • REIT Requirements has the meaning set forth in Section 5.2.

  • Credit Requirements means a senior, unsecured long term debt rating (or corporate rating if such debt rating is unavailable) of (a) BBB or greater from S&P, or (b) Baa2 or greater from ▇▇▇▇▇'▇, and if such ratings are split, the lower of the two ratings must be at least BBB or Baa2 from S&P or ▇▇▇▇▇’▇, respectively.

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • Project Requirements means the statement included in the Request for Proposal detailing the technical and other requirements of Canada which are to be met by the successful Bidder, and which are to be addressed in the Bid;

  • Reporting Requirements As defined in Section 11.15.