Office of Management and Budget (OMB) Circular A-133 applies to audits of States, local governments, and non-profit organizations.1 Most grantees and delegate agencies that expend $500,000 or more from Federal awards in a fiscal year, including funds received directly from the Federal Government for other programs, must have a single audit.2 Single audit means an audit that includes the entity’s financial statements and the Federal awards as described in OMB Circular A-133 §_.500 and covers the entire operation of the grantee.

Source: Early Childhood Learning and Knowledge Center

Available at: http://eclkc.ohs.acf.hhs.gov/hslc/standards/IMs/2012/resour_ime_001_021012.html