Get the free OMB CIRCULAR A-133 - cte ed

March 2004 Compliance Requirements M. RECIPIENT MONITORING Compliance Requirements A pass-through entity is responsible for: Award Identification At the time of the award, identifying to the subrecipient

How to fill out omb circular a-133

How to fill out omb circular a-133?

1. Familiarize yourself with the requirements: Before filling out omb circular a-133, it is important to understand the purpose and requirements of this circular. Omb circular a-133 outlines the guidelines for audits of states, local governments, and nonprofit organizations that receive federal financial assistance. Make sure you have a clear understanding of the specific regulations and guidelines outlined in the circular.
2. Gather the necessary documentation: To properly fill out omb circular a-133, you will need to gather all the required documentation. This may include financial statements, grant agreements, expenditure records, budget documents, and other relevant records. Ensure that you have all the necessary documents readily available before starting the process.
3. Review the compliance requirements: Omb circular a-133 lays out specific compliance requirements that organizations must adhere to. These requirements may include internal control assessments, testing of compliance with federal laws and regulations, and reporting of any instances of noncompliance. Take the time to thoroughly review these compliance requirements to ensure accurate and thorough completion of the circular.
4. Complete the reporting forms: The omb circular a-133 provides various reporting forms that organizations need to complete. These forms include the Schedule of Expenditures of Federal Awards, the Data Collection Form, and the Summary Schedule of Prior Audit Findings. Carefully fill out these forms, providing accurate and detailed information.
5. Follow the submission guidelines: Once you have completed filling out the omb circular a-133, make sure to review the submission guidelines provided by the federal agency or organization requiring the circular. These guidelines may outline specific submission deadlines or instructions on how to submit the completed circular and supporting documentation. Adhere to these guidelines to ensure timely and proper submission.

Who needs omb circular a-133?

1. Organizations receiving federal financial assistance: The primary audience for omb circular a-133 is organizations that receive federal financial assistance. This includes state and local governments as well as nonprofit organizations. These organizations are required to comply with the circular's guidelines and submit the necessary documentation and reporting forms.
2. Auditors and compliance officers: Auditors and compliance officers within federal agencies and organizations also need to be familiar with omb circular a-133. They are responsible for reviewing the completed circulars and supporting documentation submitted by the recipient organizations to ensure compliance with federal regulations.
3. Grantors and funding agencies: Grantors and funding agencies that provide federal financial assistance also need a good understanding of omb circular a-133. They rely on the information and reports provided by the recipient organizations to evaluate compliance and ensure proper use of federal funds.

By following the step-by-step process outlined above, organizations can effectively fill out omb circular a-133 and meet the necessary compliance requirements. Additionally, auditors, compliance officers, and grantors can utilize the circular to evaluate compliance and monitor the use of federal financial assistance.

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What is omb circular a-133?

OMB Circular A-133 is a document issued by the Office of Management and Budget that provides guidelines for audits of federal financial assistance programs.

Who is required to file omb circular a-133?

Non-federal entities that receive federal financial assistance are required to file OMB Circular A-133.

How to fill out omb circular a-133?

OMB Circular A-133 must be filled out according to the instructions provided by the Office of Management and Budget.

What is the purpose of omb circular a-133?

The purpose of OMB Circular A-133 is to ensure that federal financial assistance programs are being properly administered and that funds are being used for their intended purposes.

What information must be reported on omb circular a-133?

Information such as financial statements, findings and questioned costs, and corrective actions taken must be reported on OMB Circular A-133.