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Tag Archives: OMB
USFR Account Changes for Equipment Thresholds
The Arizona Auditor General has recently updated the Chart of Accounts in the Uniform System of Financial Records for Arizona School Districts (USFR) to allow for easier federal reporting for capital purchases. This Chart of Accounts change is effective July … read more
Posted in Articles
Tagged Arizona, assets, compliance, equipment, Federal, financial reporting, financial statements, inventory, Kara Curtis, OMB, purchasing, school districts, USFR
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Single Audit Threshold Changes
In April 2024, the Office of Management and Budget (OMB) raised the Single Audit threshold from $750,000 to $1,000,000, a change that significantly impacts non-federal entities such as state and local governments and non-profit organizations. This increase, effective for fiscal … read more
Posted in Articles
Tagged Arizona, expenditures, Federal program, government, grants, James Shankland, nonprofit, NPO, OMB, Single Audit, single audit threshold changes
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Uniform Guidance Update – OMB Has Increased the Simplified Acquisition Threshold and Micro-Purchase Threshold for Procurements
Expected to provide relief to local governments, on June 20, 2018, the Office of Management and Budget (OMB) issued memorandum M-18-18 titled, Implementing Statutory Changes to the Micro-Purchase and Simplified Acquisition Thresholds for Financial Assistance, to implement the effect of … read more
Posted in Articles
Tagged compliance, federal programs, government, OMB, procurement, purchasing, Single Audit
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Uniform Guidance – Brief Overview of the Methods of Procurement
Posted March 27, 2017 Presentation by Eugene Park:
Posted in Videos
Tagged accounting, audit, compliance, government, nonprofit, NPO, OMB, procurement, purchasing, uniform guidance
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