A Local Government Received and Expended the Following Federal Financial

question 13

Essay

A local government received and expended the following federal financial assistance under several programs during 20X4:
$\begin{array}{lr}\text { Program A } & \$ 100,000 \\\text { Program B } & 200,000 \\\text { Program C } & 650,000 \\\text { Program D } & 875,000 \\\text { Program E } & 1,025,000 \\\text { Program F } & 900,000 \\\text { Program G } & \underline{ 1,000,000} \\\text { Total } & \underline{\$ 4.750,000}\end{array}$ Requirements:
A. Is this government required to have a single audit? Why?
B. If a single audit is performed on the government, what are its Type A programs?
C. Assume that the two largest Type A programs that you identified in Part B of this question were audited as major federal financial assistance programs in one of the past two years and that the audits uncovered no findings or questioned costs. Further assume that each of the Type B programs could reasonably be assessed as high-risk programs. Which programs should be audited as major programs? Why?

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Definitions:

Financial Plan

A detailed strategy outlining how a business will maintain its financial health, including projections for income, expenses, and investment needs.

Macro-Environment

Refers to the broad external conditions that can impact businesses and industries, such as economic trends, social changes, technological advances, environmental factors, and political policies.

Business Plan

A formal written document that describes the nature of a business, its objectives, strategies, market, financial forecasts, and management team.

Professional-Looking Copy

Written material, such as documents, advertisements, or digital content, that is presented in a polished, formal manner conducive to professional standards.