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OMB Circular A-133Audits of States, Local Governments and Non-Profit OrganizationsPresented by Ann Holmes and Toni Lawson
History of Single Audit
Sets forth standards for obtaining consistency and uniformity among Federal agencies for the audit of [Universities] expending Federal funds.
The number assigned to a Federal program in the Catalog of Federal Domestic Assistance (CFDA).
47.076 Education/Human Resources (NSF)
Process designed to provide reasonable assurance of achieving the following:
A non-Federal entity that provides a Federal award to a subrecipient to carry out a Federal program.
SubrecipientA non-Federal entity that expends Federal funds received from a pass-through entity to carry out a Federal program.
A. Activities Allowed or Unallowed
B. Allowable Costs/Cost Principles
C. Cash Management
*Funds requested are for actual expenses
D. Davis-Bacon Act
F. Equipment and Real Property Management
G. Matching, Level of Effort
H. Period of Availability of Federal Funds
I. Procurement, Suspension & Debarment
J. Program Income
Gross income received that is directly generated by the federally funded project during the grant period
K. Real Property Acquisition & Relocation Assistance
M. Subrecipient Monitoring
N. Special Tests & Provisions
“If you don’t like being audited by an auditor, you will really dislike being audited by an angry auditor.”NCURA