Management and Budget Office April 22, 2016 – Federal Register Recent Federal Regulation Documents

In compliance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3501, et seq.), the Office of Management and Budget (OMB) invites the general public and Federal agencies to comment on a revision of an approved information form (SF-SAC) that is used to report audit results, audit findings, and questioned costs as required by the Single Audit Act Amendments of 1996 (31 U.S.C. 7501, et seq.) and 2 CFR part 200,''Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.'' The first notice of this information collection request, as required by the Paperwork Reduction act, was published in the Federal Register on December 9, 2015 (80 FR 76581). The proposed changes are to revise some existing data elements in the form and add other data elements that would make it easier for the Federal agencies to identify the types of audit findings reported in the audits performed under the Single Audit Act. The current Form SF-SAC was designed for audit periods ending in 2013, 2014 and 2015 (for FY 2015 for audit periods beginning before December 26, 2014). The proposed revised Form SF-SAC is designed for audit periods ending in 2015, 2016 and 2017 (for FY 2015 audit periods beginning on or after December 26, 2014). The detail proposed changes, the proposed format and discussion of the public comments and responses are described on OMB Web site at: https:// www.whitehouse.gov/omb/grants_forms/. To help respondents make sure they complete the correct version of the Form SF-SAC and to prevent them from filling out the Form SF-SAC when they are not required to do so, the Federal Audit Clearinghouse (FAC) data collection system will ask if the auditee is a state, local government, Indian Tribe, institution of higher education (IHE), or nonprofit organization, the auditee's fiscal period begin and end dates, is the auditee U.S. based, and did the auditee met the expenditure threshold. For fiscal years starting on or after December 26, 2014, the FAC also plans to allow Non-Federal entities who did not meet the threshold requiring submission of a Single Audit report to voluntarily notify the FAC that they did not meet the reporting threshold. This information helps the Federal agencies in the review of applicants that fall below the reporting requirements. The FAC plans to put this information on their Web site. The FAC intends to continue collection of late submissions and revisions from auditees on the two previous versions of the Form SF-SAC. The FAC may suspend the collection of late submissions on previous versions of the Form SF-SAC after five years.