What audit guidance is available for the Housing Development Cost Certifications required by certain HUD Programs?
A. Single Audits: • Is my organization required to conduct a (Federal or State) Single Audit? • Federal Single Audit: According to Subpart B Audits ___ .200 (a) of the OMB Circular A-133, Non-Federal entities that expend $300,000 ($500,000 for fiscal years ending after December 31, 2003) or more in the organizations fiscal year in Federal awards shall have a single or program-specific audit conducted for that year in accordance with the provisions of this part. Guidance on determining Federal awards expended is provided in ___ .205. • Non-Federal entity is defined as a state, local government, university, or non-profit organization. For-profit entities are not subject to Federal Single Audits. • State Single Audit: According to Connecticut General Statutes (CGS) Sec. 4-231, “When single audits required or program-specific audits. (a) (1) Each nonstate entity which expends a total amount of state financial assistance equal to or in excess of one hundred thousand dollars ($100,000) in an
