iii. In the event the Agency expends less than the threshold established by 2 CFR Part

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

This item concerns audit requirements for an agency that receives Federal awards. The agency may be exempt from certain audit requirements if its Federal award expenditures are below a specific threshold. If the agency chooses to have an audit even when exempt, the cost must be covered by non-Federal funds. This is a planned procedural review of audit compliance rules. The scope of work involves administrative review and potential financial reporting. No construction or direct services are indicated at this time. Local businesses involved in accounting, tax services, and legal services may find opportunities related to compliance and financial reporting.