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1 Single Audit Legislative Audit Bureau September 2009.

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Presentation on theme: "1 Single Audit Legislative Audit Bureau September 2009."— Presentation transcript:

1 1 Single Audit Legislative Audit Bureau September 2009

2 2 Single Audit  As a condition of receiving federal funds, the State must: – meet the audit requirements of the federal “Single Audit Act” of 1984, as amended; and –meet the requirements of federal Office of Management and Budget (OMB) circular A-133.  Annual audits by the Audit Bureau fulfill these requirements.

3 3 Single Audit Purpose  Provides assurance to federal government that applicable federal laws and regulations have been followed.  Analyzes whether state agencies have proper safeguards, or internal controls, to manage funds properly.

4 4 Total Federal Financial Assistance

5 5 Key Facts and Findings  In fiscal year , Wisconsin administered $10.0 billion in federal financial assistance through more than 1,600 federal programs and grants.  Medical Assistance is the largest single federal program administered by the State.

6 6 Federal Financial Assistance Administered by State Agencies

7 7 Typical Single Audit Findings and Recommendations  Improve state agency administration of federal grant programs.  Improve internal controls to help ensure proper program administration.  Identify questioned or unallowable costs charged to federal grants.  Identify additional federal funds the State can claim.

8 8 Future Single Audits  The Single Audit is an important tool for ensuring accountability over federal funds.  The nature of our Single Audit work is changing in response to the infusion of additional federal funds provided by the American Recovery and Reinvestment Act (ARRA).

9 9 Single Audit Changes  Separate accountability provisions for ARRA funding.  Additional grant programs to be audited.  Pressure to complete Single Audits on a more timely basis and provide earlier communication of internal control deficiencies.

10 10 Federal Recovery Act Funding Available to States and Localities

11 11 Section 1512 Reporting  First reports from all state governments and other ARRA recipients are required to be submitted to on October 10,  Detailed information on the use of stimulus funds is required.  Data are expected to be complete, accurate, and timely.

12 12 Program Challenges  Expectations for “an unprecedented level of transparency and accountability.”  Coordination needed among federal, state, and local governments.  Qualified personnel needed to implement proper controls and help ensure accountability.  State Auditors need “additional flexibility and funding to undertake the added Single Audit responsibilities.”

13 13 Single Audit Legislative Audit Bureau September 2009


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