Rule
2 CFR 200.501(a) requires a single audit or program-specific audit for a non-Federal entity that expends $1,000,000 or more of Federal awards in its fiscal year, and 200.501(e) exempts an entity below that amount for the year. The threshold is $1,000,000 for fiscal years beginning on or after October 1, 2024, and was $750,000 for fiscal years beginning on or after December 26, 2014 and before that date. The tool tests expenditures against the threshold, then sets the due date as the earlier of 30 days after the report is received and nine months after year end, rolling a weekend to Monday.
Source
Read in the eCFR: 2 CFR 200.501 (audit requirements) and 200.512 (report submission), and the OMB revision published in the Federal Register on April 22, 2024. The threshold applies to fiscal years, not award dates, so it is the same for every award the entity holds.
When to use it
Use it at planning, when an engagement letter has to say whether the audit is a single audit, and again at year end when the schedule of expenditures is final. After the threshold is crossed, use the major program determination calculator to find the programs you must audit.
Limits
The tool does not apply the expenditure rules for loans, loan guarantees or noncash awards, does not check federal holidays, and does not model due date extensions granted by the cognizant agency. Fiscal years that began before December 26, 2014 fall under earlier rules and are outside the tool. State and funder audit requirements can be stricter than the federal ones. Check the result against your firm's methodology before relying on it.
Common questions
What is the single audit threshold now?
For fiscal years beginning on or after October 1, 2024, a non-Federal entity that expends $1,000,000 or more in Federal awards during its fiscal year must have a single audit or program-specific audit under 2 CFR 200.501. For fiscal years that began before that date the threshold was $750,000. OMB made the change in its April 22, 2024 revisions to the Uniform Guidance, and the change applies whether or not a federal agency amends existing awards.
Which date decides the threshold, the year start or the year end?
The start of the auditee's fiscal year. A year that begins on September 30, 2024 and ends on September 29, 2025 still uses $750,000. A year that begins on October 1, 2024 uses $1,000,000.
What if the entity spends less than the threshold?
It is exempt from the federal audit requirement for that year. Under 2 CFR 200.501(e) its records still have to be available for review by the Federal agency, pass-through entity and GAO. A funder may also impose its own audit terms through the award.
When is the reporting package due?
Under 2 CFR 200.512(a)(1), the audit, the data collection form and the reporting package are due within 30 calendar days after the auditee receives the auditor's report or nine months after the end of the audit period, whichever is earlier. The cognizant or oversight agency for audit may authorize an extension when the nine-month period would place an undue burden on the auditee. A due date that falls on a weekend or federal holiday moves to the next business day.
What counts as federal awards expended?
Expenditures of Federal awards received directly or as a subrecipient, as 2 CFR 200.502 sets out, shown on the schedule of expenditures of federal awards. Payments for goods or services you provided as a contractor are not federal awards for this purpose. Loans and noncash assistance follow their own rules in 200.502, so enter the figure from your schedule rather than a cash total.
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