Nonprofit Accounting Basics

Audit

Organizational Documents

Other Information

Period of Availability of Federal Funds

Federal awards may specify a time period during which the non-federal entity may use the federal funds.

Post-Fieldwork Considerations for Audits

There are essentially three stages to every audit – planning/pre-fieldwork, fieldwork, and post-fieldwork/wrap-up.

Preparing for the Audit

To prepare for an audit, your organization will need to gather information for the auditor.

Procurement and Suspension and Debarment

Procurement

States, and governmental subrecipients of states, shall use the same state policies and procedures used for procurements from non-federal funds.

Program Income

Income generated from a federal program must be recorded correctly and used as a deduction from outlays, as an addition to the project budget, or to meet matching requirements.

Real Property Acquisition and Relocation Assistance

The Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended, (URA) provides for uniform and equitable treatment of persons displaced by federally-assisted progr

Special Tests and Provisions

Special tests and provisions are the special provisions related to each federal program.

Subrecipient Monitoring

Subrecipient monitoring requires recipients to monitor the activities of subrecipients relative to their federal awards.

An award recipient is responsible for:

What is an Audit?

Periodically, nonprofit organizations will have to submit financial statements to show how they are doing financially.

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