DHS Financial Reporting Requirements

March 2001

SUBRECIPIENTS Contractors classified as

subrecipient and expending $300,000 or more in Federal Funds shall have a single audit or program specific audit performed(per Federal Single Audit Act and OMB A-133.)

SUBRECIPIENTS Government and Non-Profit

subrecipients must submit: To DHS: either a written notification or

a reporting package pertaining to the Single Audit (unless complete audit report is requested).

To the State Auditor: the complete Single Audit report.

SUBRECIPIENTSWritten Notification Period covered by the audit AND Name, amount, and CFDA number

AND Statement disclosing no audit

findings AND Statement of prior audit findings-

with no findings related to DHS

SUBRECIPIENTSReporting Package (as discussed in A-133)

Financial statements and schedule of expenditures of Federal Awards. AND

Summary schedule of prior audit findings. AND

Auditor’s reports AND Corrective action plan

SUBRECIPIENTS

All subrecipients must also turn in a copy of auditor’s management’s letter to DHS.

For the State Auditor: only if there are findings in any report covered in the Audit!

SUBRECIPIENTS Government and non-profit

subrecipients must file the required reports within 9 months after fiscal year ending or 30 days after the audit is completed.

SERVICE PROVIDERSThose receiving $150,000 or more in total revenues: Non-profit entities receiving 50%

OR MORE of their revenue from Government sources and all Government Agencies shall submit to DHS and the State Auditor a copy of the entire audit report using GAS “yellowbook” standards.

SERVICE PROVIDERSThose receiving $50,000 or more but less than $150,000 in total revenues:

Non Profit entities receiving 50% OR MORE of their revenues from Government Sources and all Government Agencies shall submit to DHS and the State Auditor:

1. Unaudited CPA compilation or review 2. Statement of functional expenses.

SERVICE PROVIDERS

Non profit entities receiving $150,000 or more in total revenues BUT LESS THAN 50% of the revenues are from Government sources shall submit to DHS:

1. Unaudited CPA compilation or review 2. Statement of functional expenses. No reporting requirement to the State Auditor.

SERVICE PROVIDERS Non-profit entities receiving $50,000 or

more BUT LESS THAN $150,000 in total revenues and less than $50% of the revenues are from government sources shall submit to DHS:

1) Financial Statements (see Definition) 2) Statement of Functional Expenses No reporting requirement to the State Auditor

A Basic Financial Statement Includes:

balance sheet, income statement, statement of cash flows,notes to the financial

statements.

SERVICE PROVIDERSService Providers receiving LESS THAN $50,000 in Total Revenues:

Non Profit entities receiving 50% MORE THAN of their revenues from Government sources and all Government Agencies shall submit to the State Auditor unaudited financial information on a form approved by the State Auditor.

SERVICE PROVIDERS

All service providers receiving LESS THAN $50,000 in total revenues shall submit to DHS unaudited financial information including at a minimum:

1) Balance Sheet 2) Income & Expense Statement

For -Profit Service Providers

Reporting requirements shall be the same requirements for non-profit contractors relating to DHS requirements.

There is no reporting requirement for the State Auditor.

SERVICE PROVIDERS

All Service Providers shall submit to DHS and the State Auditors Office the required audited or unaudited reports within 6 months after the end of their fiscal year