ECF Funds May be Subject to Uniform Guidance Audit
AAFCPAs would like to make Charter School clients aware that funds received under the ECF (Emergency Connectivity Fund) Program are federal funds and must be included in the calculation for determining your need for a Uniform Guidance audit. In May 2021, the ECF program was established by the FCC (Federal Communications Commission) to distribute ARPA […]
Will Paycheck Protection Program Loans Be Subject to Uniform Guidance for Nonprofit Organizations?
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes many provisions that are applicable to nonprofit organizations. One of the provisions is the Paycheck Protection Program (PPP) Loans which provides 100% Federally guaranteed loans to covered entities who meet certain criteria. A consideration for nonprofit organizations is whether the loans will be subject […]
AAFCPAs’ Hui-Ting Grady, CPA, MBA Earns Advanced Single Audit Certificate
AAFCPAs Assurance Manager Hui-Ting Grady, CPA, MBA is now among an elite group of CPAs in the country who have earned the Advanced Single Audit Certificate from the American Institute of CPAs (AICPA)’s Governmental Audit Quality Center. This advance level certificate is designed for auditors with seven or more years of experience in performing and […]
Guidance on How UG Procurement Standards Affect Charter Schools
AAFCPAs’ John Buckley, CPA, CGMA discussed challenges and opportunities facing Charter Schools while attending and presenting at this year’s National Charter School’s Conference in Austin, TX. In conversations, John learned that many schools have yet to formally update their procurement policies to reflect the Uniform Guidance (UG) procurement standards. As a reminder, the grace period for non-federal entities […]
OMB Clarifies Applicability Date for Micro-Purchase and Simplified Acquisition Thresholds Increase
The Uniform Guidance (UG) was issued in 2013 by the U.S. Office of Management and Budget (OMB) and effective on December 26, 2014 for all nonprofit entities. OMB granted a grace period of three full fiscal years for the implementation of the UG procurement standard. Nonprofit entities with a June 30th fiscal year end must […]
OMB Further Extends the Effective Date for the Procurement Standards of the Uniform Guidance
AAFCPAs would like to make clients aware that on May 17, 2017, the U.S. Office of Management and Budget (OMB) issued a correcting amendment extending the effective/applicability date of the procurement standards under the Uniform Guidance (UG). The procurement standards were one of the areas of significant change under the UG, and nonprofits receiving federal […]
Guidance on How to Comply with Procurement Standards Under the Uniform Guidance
In December 2013, the Office of Management and Budget (OMB) issued the new Uniform Guidance (UG), which includes comprehensive reform rules affecting all nonprofits receiving federal grants and contracts. One of the areas of significant change under the UG is the procurement standards, a component of Subpart D, Post-Award Requirements, contained in Sections 200.317 through […]
Form SF-SAC Now Available on FAC Web Site, Submission Deadline Extended Further
The updated Data Collection Form (DCF or Form SF-SAC) for Uniform Guidance submissions and related instructions are now available on the Federal Audit Clearinghouse’s (FAC) website. Click here to be directed to the Instructions and Documents. >> Due to the prior unavailability of the updated DCF, an extension was previously posted to the FAC website […]
Form SF-SAC Submission for Single Audits Deadline Extended
The U.S. Office of Management and Budget (OMB) created, but has yet to issue its new data collection form (Form SF-SAC) applicable to single audits performed under Uniform Guidance (UG). Nonprofits whose audits were performed under the Uniform Guidance are unable to submit the Form SF-SAC and their reporting package to the Federal Audit Clearinghouse […]
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