COM 0568.000 1996-1998 - Laserfiche WebLink

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OMB Circular No. A-133 http://wwwl.whitehouse.g...circulars/a133 /a133.h[r~,_ r n sepazately. At a minimum, the schedule shall: (1) List individual Federal progams by Federal agency. For Federal progams included in a cluster of progams, list individual Federal progams within a cluster of programs. For R&D, total Federal awards expended shall be shown either by individual awazd or by Federal agency and major subdivision within the Federal agency. For example, the National Institutes of Health is a major subdivision in the DepaRment of Health and Human Services. (2) For Federal awazds received as a subrecipient, the name of the pass-through entity and identifying number assigned by the pass-through entity shall be included. (3) Provide total Federal awards expended for each individual Federal program and the CFDA number or other identifying number when the CFDA infomlation is not available. (4) Include notes that describe the significant accounting policies used in preparing the schedule. (5) To the extent practical, pass-through entities should identify in the schedule the total amount provided to subrecipients from each Federal progam. (6) Include, in either the schedule or a note to the schedule, the value of the Federal awards expended in the form of non-cash assistance, the amount of insurance in effect during the yeaz, and loans or loan guarantees outstanding at year end. While not required, it is preferable to present this information in the schedule. §_.315 Audit findings follow-up. (a) General. The auditee is responsible for follow-up and corrective action on all audit findings. As part of this responsibility, the auditee shall prepare a summary schedule of prior audit findings. The auditee shall also prepare a corrective action plan for current yeaz audit findings. The summary schedule of prior audit findings and the corrective action plan shall include the reference numbers the auditor assigns to audit findings under §_.51O(c). Since the summazy schedule may include audit findings from multiple yeazs, it shall include the fiscal yeaz in which the finding initially occurred. (b) Summary schedule of prior audit findings. The summary schedule of prior audit findings shall report the status of all audit findings included in the prior audit's schedule of findings and questioned costs relative to Federal awazds. The summary schedule shall also include audit findings reported in the prior audit's summary schedule of prior audit findings except audit findings listed as corrected in accordance with paragaph (b)(1) of this section, or no longer valid or not warranting further action in accordance with paragaph (b)(4) of this section. (1) When audit findings were fully corrected, the summary schedule need only list the audit findings and state that corrective action was taken. (2) When audit findings were not corrected or were only partially corrected, the summary schedule shall describe the planned corrective action as well as any partial corrective action taken. (3) When corrective action taken is significantly different from corrective action previously reported in a corrective action plan or in the Federal agency's orpass-through entity's management decision, the summary schedule shall provide an explanation. 16 of 32 10/20/97 11:15:34