As specified in the Uniform Guidance, a Single Audit is required for a non-Federal entity that expends $750,000 or more in Federal awards during the entity’s fiscal year. The audit must cover the entire operations of the entity or must cover a series of audits that includes all departments, agencies, and other organizational units that expended or otherwise administered Federal awards during the audit period.
Effective for fiscal years beginning on or after October 1, 2024, the Single Audit requirement was increased to $ 1 million or more in Federal awards.
Effective for fiscal years beginning on or after October 1, 2024, the Single Audit requirement was increased to $ 1 million or more in Federal awards.
Fiscal Year 2024-25 exempt with federal expenditures less than $750,000
