Preparing municipalities for the audit process
The U.S. Treasury has stated that the Single Audit Act of 1984 and its current implementing regulation will apply to Coronavirus Local Fiscal Recovery Fund (CLFRF) awards authorized under the American Rescue Plan Act (ARPA) of 2021. Authoritative estimates are that as many as 10,000 municipalities and other organizations that were not previously required to arrange for a single audit will now be required to do so. This webinar highlights what auditors will be looking for and how municipalities with limited experience administering federal awards can prepare for the single audit process and ensure that they utilize this historic funding opportunity appropriately. Municipalities with FRF allocations are encouraged to view this session.