Fall 2009 issue of Horizons

Raise Your Expectations CERTIFIED PUBLIC ACCOUNTANTS AND BUSINESS CONSULTANTS

audited more frequently as part of the Single Audit. Recovery Act funds will be identified in the agreement between the organization and the federal agency, including Recovery Act funds that are passed through to subrecipients. For all Recovery Act funds passed to subrecipients, the organization must identify the subrecipient, the federal award number, CFDA number and the amount of the Recovery Act funds passed through. This information also must be included on the final report submitted. While the Recovery and Reinvestment Act of 2009 is a source of substantial funding for many governments, it also is a source of substantial new compliance, reporting and auditing requirements. Recipients should understand these requirements and implement controls to ensure these requirements are followed. Governments wishing to further research the requirements of the act should visit recovery.gov or the 2009 A-133 compliance supplements located on the OMB Web site. Conclusion

Questions? Contact:

Jeff Winter, CPA, CGFM Partner-in-Charge Public Sector Services Group 314.290.3408 jeff.winter@rubinbrown.com

52 u fall 2009 issue