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Single Audit Requirement

The Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) 2 CFR 200.501 requires non-Federal entities that expend $750,000 or more in Federal awards in a fiscal year to have a single or program-specific audit conducted for that fiscal year.  Guidance on determining Federal awards expended is provided in 2 CFR 200.502.  The dollar threshold was previously $500,000 under OMB Circular A-133 for fiscal years beginning prior to December 26, 2014.

  1. If the entity expends less than $750,000 in federal awards, it is required to submit written notification of its exempt status to the SCO.
  2. If the entity expends equal to or in excess of $750,000 in federal awards and that amount does not include any state pass-through funds, the entity must submit either the audit report or an explanation letter to the SCO. If the entity is currently being monitored by the SCO, a “No Review Letter” will be issued to the entity in return.
  3. If the entity expends equal to or in excess of $750,000 in federal awards and that amount includes any state pass-through funds, then the SCO requires a complete single audit reporting package to be submitted for review. Reporting packages are reviewed on a first-in, first-out basis.
     

The single audit reporting package is a collection of several documents. For a summary of the required report parts, see the Reporting Package link of the Submissions section.