In a memorandum from the U.S. Office of Management and Budget (OMB) on March 19, 2020, OMB provided short-term relief to recipients affected by COVID-19. The relief provisions are related to various administrative, financial management and audit requirements under the Uniform Guidance. Included in the relief provisions is an extension of the Single Audit submission requirement to six months beyond the normal due date for recipients that have not yet filed their Single Audits with the Federal Audit Clearinghouse as of March 19, 2020 and that have fiscal year-ends through June 30, 2020. The extension does not require recipients to seek approval for the extension by the cognizant or oversight agency for audit. Recipients should maintain documentation of their reason for the delayed filing. Recipients taking advantage of this extension would still qualify as a “low-risk auditee.”
For Illinois organizations subject to audits required by the Grant Accountability and Transparency Act (GATA), the State of Illinois’ Governor’s Office of Management and Budget announced that the automatic six-month extension by OMB, including the requirement for documentation of the reason, is similarly adopted and will be afforded to Illinois grantees subject to audits required by GATA. However, if a grantee is required to have an audit conducted due to other law or regulation, the grantee should contact the funding or oversight agency requiring the audit to confirm any applicable audit due date extension.
For more information about the extensions for Federal Single Audit and Illinois’ GATA deadlines, contact Jim Quaid at email@example.com or call him at 312.670.7444. Visit ORBA.com to learn more about our Not-For-Profit Group. If you’d like to receive Client Alerts on timely topics that may affect your business, Click HERE to update your blog preferences.