Transcript Single Audit Presentation

Topics
•Vendor’s Single Audit Status
•Commission’s Single Audit Status
Vendor’s Single
Audit Status
•Requirements-Any agency that receives total
state assistance equal to or in excess of
$500,000 per year.
•Purpose-Establish uniform requirements and
ensure accountability for projects utilizing
state funds.
Transportation Disadvantaged
Commission’s Responsibilities
•Identify- Determine which contracts require
audits/exemptions?
•Inform- Contact agency to ensure
audits/exceptions are received timely.
•Reconcile- Verify that agency expend the
amount that was disbursed.
•Organize- Properly file copies of audits
and in-house work papers
Issues and Status
•Past inventory- Florida Department of
Transportation-Office of Inspector General
Audit dated 1/13/2010 indentified 578
non-compliant audits outstanding.
•Current inventory- Currently there are no
outstanding non-compliant audits.
Changes Moving Forward
•We have created a database containing all
vendors audit information(F/Y ending, Due date
of audit, etc.)
•Since part of the initial problem was finding
required documentation. We established both a
paper and electronic filing system.
•We have established a good working
relationship with the Office of Inspector
General. This insures good communications so
that if a problem does arise it is dealt with
before it becomes a major issue.
The Commission’s Single Audit
Status
•Requirement - The Commission is required
to “conduct an annual financial audit”
•Status - We have contracted with Harvey,
Covington & Thomas to perform the required
audits for the 3 outstanding fiscal years.