In 2013, the Office of Management and Budget (OMB) released the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the “Uniform Guidance”), which consolidated and streamlined the various federal policies governing the award and administration of federal … Read more

What if I said there’s a process that, when regularly performed, provides the following benefits: (1) increased accuracy in financial reporting, (2) early fraud detection, and (3) less time spent preparing for the annual financial audit—would you believe me? It … Read more

Headline: City finance employee embezzles public money. While the facts may differ, the story underlying this all-too-common headline is usually one in which a trusted employee slowly pockets money by writing checks or electronically transferring funds to a personal bank … Read more

5/9/22 Update: U.S. Treasury released an updated set of Final Rule FAQs on April 27, 2022, that helped clarify the program income reporting requirements. FAQ 13.11 stipulates that the addition method set forth in 2 C.F.R. 200.307(e)(2) applies to program … Read more

UPDATE: In April 2022, Treasury published updated audit requirements for APRA funds for some local governments. Units that have federal single audit expenditures that meet or exceed $750,000 only because of ARP expenditures may opt to have a Compliance Examination … Read more