How grantee and subrecipient fiscal monitoring is conducted
Notification and preparation: The fiscal monitoring team notifies the grantee or subrecipient at least 30 days in advance about the scheduled monitoring. They provide instructions about the fiscal monitoring process, the required documentation, and any additional information. The grantee or subrecipient organization has 30 days to upload the documentation. During this time, a virtual pre-entrance meeting is held to review the monitoring agenda, documentation, and information needed, and to answer any questions.
Entrance meeting and initial review: The monitoring team hosts a virtual entrance check-in meeting at the start of the monitoring to review the documentation received and identify any additional documentation needed. The fiscal monitoring team uses the Uniform Federal Guidance 2 CFR 200, OMB Compliance Supplement, Generally Accepted Accounting Principles (GAAP), OAM, and OAR as the basis for compliance.
Fiscal review and reporting: The fiscal monitor conducts the review, which includes testing and sampling of grant expenditures. They typically complete the process within 60 days. A draft report is prepared and reviewed with the subrecipient to resolve any findings, and review recommendations and observations.
Ongoing support and guidance: The team is available to assist, support, and provide guidance to grantees and subrecipients, helping them meet federal and state fiscal compliance standards.
Monthly Spotlight
Welcome! This section brings together quick, practical reads designed to help you build confidence in your grant management practices, strengthen your understanding of key requirements, and keep day to day operations running smoothly.
Important Note: Federal and state regulations, including the Uniform Guidance, are updated regularly. These articles are intended to support general understanding but may not always reflect the latest updates. Grant recipients are responsible for reviewing official federal and state resources and ensuring ongoing compliance with all applicable requirements.
What is a Single Audit and is my organization subject to this?
A
single audit is an independent and comprehensive review of an organization’s financial statements and its compliance with federal award requirements. This audit helps ensure that federal funds are being used properly and that organizations remain accountable for how they manage grants and other federally funded activities.
Whether an organization needs a Single Audit depends on the amount of
federal funding expended during its fiscal year. For
awards issued before Oct. 1, 2024, an annual single audit is required if the organization expends
more than $750,000 in federal funds. For awards issued on or after Oct. 1, 2024, updated Uniform Guidance raises that threshold to
$1,000,000. This requirement applies to all federal funding types, including grants, pass through funds, and cooperative agreements.
Recent revisions to the Uniform Guidance also include updated procurement and cost thresholds, strengthened internal control expectations, and clearer compliance standards. These updates are intended to improve consistency across federal programs while reducing unnecessary administrative burden.
In practice, organizations benefit from keeping clear, accurate financial records and maintaining strong internal controls to ensure they are audit ready regardless of whether they meet the single audit threshold. Monitoring expenditures throughout the year helps avoid surprises and ensures compliance with federal requirements.
Resources