Question
Problem (10 points). Provided below is information concerning expenditures incurred in fiscal years 20X5 and 20X6 by the State ofViolet under several different Federal assistance
Problem (10 points).
Provided below is information concerning expenditures incurred in fiscal years 20X5 and 20X6 by the State ofViolet under several different Federal assistance programs.
| STATE OF VIOLET EXPENDITURES UNDER VARIOUS FEDERAL ASSISTANCE PROGRAMS FOR FISCAL YEARS 20X5 AND 20X6 | |||
| Federal Program | Grant | 20X5 Expenditures | 20X6 Expenditures |
| 1 | A | $ 195,000 | $ 60,000 |
| 1 | B | 185,000 | 210,000 |
| 1 | C | 155,000 | 200,000 |
| 2 |
| 246,000 | 265,000 |
| 3 |
| 2,500,000 | 175,000 |
| 4 | A | 95,000 | 65,000 |
| 4 | B | 145,000 | 135,000 |
| 5 |
| 650,000 | 0 |
REQUIRED: (1)
(2)
(3)
Which of the States Federal assistance programs would be considered major federal assistanceprograms in 20X5? In 20X6? Provide support for
your answers.
What level of study and evaluation of internal control must be performed for each program under the Single Audit Act for year 20X5? 20X6? Provide support for your answers.
What level of compliance auditing is required for each program in 20X5 under the Single Audit Act? For 20X6? Provide support for your answers.
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Governmental and Nonprofit Accounting
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi
10th edition
132751267, 978-0132751261
