Federal Single Audit Act Requirements (PDF).pdf

OMB Guidance § 200.501 requires that travel and subsistence expenses under Federal awards follow the same rules as those for Federal employees, including mileage allowances. Commercial air travel costs above the basic least expensive unrestricted accommodations class are unallowable unless certain conditions are met, such as circuitous routing or medical needs. Travel by non-Federal entity-owned aircraft is allowed, but costs exceeding commercial airfare are unallowable.

Trustees' travel and subsistence costs at institutions of higher education (IHEs) and nonprofit organizations are allowable.

Audit requirements under § 200.501 state that non-Federal entities expending $750,000 or more in Federal awards during their fiscal year must have a single or program-specific audit. Entities expending less than $750,000 are exempt from Federal audit requirements but must make records available for review.

The basis for determining Federal awards expended under § 200.502 is when the activity related to the Federal award occurs, including expenditure transactions, disbursement of funds, and use of loan proceeds. Loan and loan guarantees are calculated based on the value of new loans made or received during the audit period, plus the beginning balance of loans from previous years.