Grants Management Single Audit
Single Audit is a required audit and completed annually for all LEAs and entities that expend $750,000 or more in federal funds. Entities hire an independent Certified Public Accountant (CPA) to examine financial records, financial statements, federal award transactions and expenditures, management of operations, internal control systems and federal assistance it received during the audit period. The objective is to ensure funds were spent in accordance with the federal guidelines.
Single Audit Frequently Asked Questions:
What is a Single Audit?
Under the guidelines of 2 CFR §200.501, Single Audit Requirements, stipulate that all subrecipients must contract for a Single Audit if the subrecipient expended $750,000 or more in federal awards in any fiscal year, regardless of which federal agency provided the federal funds.
Who is subject to a Single Audit, who receives a copy and when is it due?
All LEAs must complete the Single Audit Qualifier Questionnaire. Single Audit Requirements stipulate that all subrecipients must contract for a Single Audit if the subrecipient expended $750,000 or more in federal awards in any fiscal year, regardless of which federal agency provided the federal funds. The Single Audit packet is due to ADE within thirty (30) days of receiving the audit report or nine months after the end of the auditee’s fiscal year end.
How does an LEA or entity submit documents to Grants Management at ADE?
Single Audit Reporting Packages are only accepted in electronic format and should be uploaded to the Single Audit section under Monitoring Instruments in the Grants Management Enterprise (GME).