Department of Education Federal Audit Requirements for School Administrative Units, Public Charter Schools and Private Non-profit Agencies:
The Uniform Guidance defines audit requirements for non-federal entities, including the need for single audits for entities that expend $750,000 or more in federal funds during a fiscal year. The Uniform Guidance is designed to ensure accountability and transparency in the use of federal funds.
The Department of Education requests annual audits for Private Non-profit Agencies to meet requirements set forth in:
Title 34, Code of Federal Regulations (CFR) awards made prior to 12/26/2014, EDGAR Parts 74 and 80 still apply.
For awards made on or after 12/26/2014, 2 CFR §200.501 which includes the substance formerly in parts 74 and 80, applies.
Parts 75-79, 81 to 86 and 97-99 EDGAR is currently in transition.
Federal Audit Clearinghouse operates on behalf of the Office of Management and Budget (OMB) and its primary purposes are to:
- Distribute single audit reporting packages to Federal agencies
- Support OMB oversight and assessment of Federal award audit requirements
- Maintain a public database of completed audits
- Help auditors and auditees minimize the reporting burden of complying with Circular A-133 audit requirements
Federal Audit Clearinghouse - FAQs
Government Auditing Standards (The Yellow Book)