Current through Register Vol. 46, No. 39, September 25, 2024
The independent auditor shall include the following as part
of the reporting package for the Federal single audit, or as a separate State
reporting package:
(a) auditor's
opinion on the supplementary "schedule of State transportation assistance
expended." The independent auditor shall include the following in the report on
the municipality's or public authority's financial statements:
(1) a description of the accompanying
supplementary "schedule of State transportation assistance expended" (or a
combined supplement "schedule of expenditures of Federal awards and State
transportation assistance expended.") This identification may be by descriptive
title or by page number or reference to the schedule; and
(2) a statement that the accompanying
supplementary information, including the supplementary "schedule of State
transportation assistance expended" (or a combined supplementary "schedule of
expenditures of Federal awards and State transportation assistance expended")
is presented for purposes of additional analysis and is not a required part of
the financial statements;
(3) an
opinion on whether the accompanying supplementary "schedule of State
transportation assistance expended" (or a combined supplementary "schedule of
expenditures of Federal awards and State transportation assistance expended")
is fairly stated, in all material respects, in relation to the financial
statements taken as a whole; and
(4) either the supplementary "schedule of
State transportation assistance expended", a combined supplementary "schedule
of expenditures of Federal awards and State transportation assistance expended"
incorporated in the report issued to meet the Federal single audit
requirements, or a separate report on the supplementary "schedule of State
transportation assistance expended" may be issued;
(b) auditor's report on compliance with
requirements applicable to State transportation assistance programs. The
auditor shall provide an opinion on the municipality's or public authority's
compliance with applicable State laws, rules, regulations and contract
provisions in the administration of programs, projects, contracts and grants
funded in whole or in part with State transportation assistance
funds;
(c) auditor's report on the
municipality's or public authority's internal controls over compliance. The
auditor shall provide a report on internal controls over compliance with the
requirements of laws, regulations, contracts and grants applicable to State
transportation funded programs that could have a direct and material effect on
a State transportation funded program. The auditor's report on compliance with
requirements applicable to State transportation assistance programs as
described in subdivision (b) of this section and the auditor's report on
internal controls over compliance may be combined.
(d) a schedule of findings and questioned
costs for state transportation assistance programs. The schedule shall include:
(1) a summary of audit results including,
where applicable, a statement that reportable conditions in internal control
were disclosed by the audit and whether such conditions are material to the
supplementary "schedule of State transportation assistance expended" or the
combined supplementary "schedule of expenditures of Federal awards and State
transportation assistance expended";
(2) a statement on whether the audit
disclosed any non-compliance with State transportation assistance programs that
is material to the supplementary "schedule of State transportation assistance
expended" or the combined supplementary "schedule of expenditures of Federal
awards and State transportation assistance expended":
(3) the status of current and prior material
findings, known questioned costs and recommendations that affect the current
audit of the supplementary "schedule of transportation assistance expended" or
the combined supplementary "schedule of expenditure of Federal awards and State
transportation assistance expended)";
(4) the auditee's corrective action plan for
reportable conditions, material non-compliance and known questioned costs for
State transportation assistance programs, including a summary of follow-up
actions by the auditee and auditor for prior years' findings;
(5) known questioned costs that are greater
than $10,000 and known questioned costs when likely questioned costs are
greater than $10,000 for a type of compliance requirements;
(6) known fraud affecting State
transportation assistance expended, unless such fraud is otherwise reported as
an audit finding in the schedule of findings and questioned costs. The auditor
is not required to make an additional reporting when the auditor confirms that
the fraud was reported to the municipality's or public authority's management
and the New York State Department of Transportation by other means of
communication outside of the auditors' reports;
(7) instances where the results of audit
follow-up procedures disclosed that prior reporting on the status of current
and material findings, as described above, materially misrepresents the status
of any prior audit finding or corrective action.
