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Tag Archives: Single Audit
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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How to Write an Effective Corrective Action Plan
Your entity is near the end of the audit process, and you can see the light at the end of the tunnel. Unfortunately, there is one roadblock—the entity received a significant deficiency or material weakness finding in the report and … read more
Posted in Articles
Tagged audit findings, corrective action plan, government, internal controls, Katherine Shell, nonprofit, NPO, Single Audit
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Tracy Posuniak
Areas of Expertise: Working with school districts, local governments, and non-profit organizations Financial statement and compliance audits Recipient of the Advanced Single Audit Certificate from the AICPA Reviews of ACFRs for ASBO International’s Certificate of Excellence Program Meritorious Budget Award … read more
Posted in Profiles
Tagged Arizona, audit, government, nonprofit, school district, Single Audit, Tracy Posuniak, Tucson
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10 Common Grant School Single Audit Findings
Grant schools are often subject to annual Single Audits to test compliance with federal regulations. Here at HeinfeldMeech, we perform numerous single audits for various community grant schools, among other types of governmental and nonprofit entities. In this article, we’ll … read more
Posted in Articles
Tagged BIE, community grant school, compliance, findings, internal controls, Robyn Krise, Single Audit, tribal school
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SEFA 101
For organizations requiring a Single Audit, preparing the Schedule of Expenditures of Federal Awards (SEFA) is the first and most crucial step in the process. Without an accurate SEFA, your audit firm will not be able to identify the appropriate … read more
Posted in Articles
Tagged annual audit, federal programs, financial report, government, Kristen Conway, nonprofit, NPO, schedule of expenditures of federal awards, SEFA, Single Audit
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Alternative Examination Engagement for Certain CSLFRF Recipients
It is estimated that, as a result of the Treasury Department’s $350 billion Coronavirus State and Local Fiscal Recovery Funds (CSLFRF) program, more than 10,000 new Single AuditsAlternative-Examination-CSLFRF-Recipients will be required. Many recipients of these funds are small, local governments … read more
Posted in Articles
Tagged coronavirus, Coronavirus State and Local Fiscal Recovery Funds, COVID, CSLFRF, Federal program, government, program-specific audit, school district, Single Audit
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Important Guidance on the State and Local Fiscal Recovery Funds Program
One thing we can all say is that the pandemic continues to have rippling effects on state, local, and tribal governments, many of whom are still struggling with the economic and public health impacts of COVID-19. In response, the American … read more
Posted in Articles
Tagged American Rescue Plan Act, Arizona, ARPA, compliance, Conoravirus State and Local Fiscal Recovery Funds, COVID-19, Federal program, goverment, James Shankland, school district, SEFA, Single Audit, SLFRF, Texas
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