i. In the event the Agency expends a total amount of Federal awards equal to or in

City Commission Regular Meeting · 2026-06-16 · agenda_item

This agenda item concerns audit requirements for the City of Fernandina Beach if it expends a significant amount of federal awards. The city must conduct a federal single or program-specific audit if federal award spending reaches a certain threshold, as outlined in 2 CFR Part 200, Subpart F. This requirement involves identifying all federal awards received and determining the amounts expended based on activity timelines. An audit performed by the State of Florida Auditor General can fulfill these federal requirements. This item is currently under review by the City Commission. While no direct construction is detailed, the potential need for specialized auditing services related to federal funding could arise. Businesses offering accounting, tax, and legal services related to government compliance and auditing may find opportunities. Early engagement with city officials before final decisions are made could be advantageous.