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MIAMI VALLEY REGIONAL PLANNING COMMISSION MONTGOMERY COUNTY Single Audit For the Year Ended June 30, 2019MIAMI VALLEY REGIONAL PLANNING COMMISSION MONTGOMERY COUNTY JUNE 30, 2019, Table of Contents TITLEPAGEIndependent

How to fill out montgomery county single audit

How to fill out montgomery county single audit

1. Start by gathering all the necessary financial documents and records required for the audit, such as balance sheets, income statements, and cash flow statements.
2. Familiarize yourself with the specific guidelines and requirements set by Montgomery County for the single audit. This may involve reviewing documentation provided by the county or consulting with the county's audit department.
3. Identify any federal programs or grants received by Montgomery County that are subject to the single audit. These could include programs related to education, healthcare, housing, or transportation.
4. Determine the appropriate audit period, usually the county's fiscal year. Make sure to gather all relevant financial data for this specified time period.
5. Prepare the necessary schedules and worksheets to facilitate the audit process. This may include preparing a schedule of federal awards, a schedule of expenditures of federal awards, and a summary of prior audit findings.
6. Conduct fieldwork to gather evidence and perform substantive testing. This could involve reviewing supporting documentation, conducting interviews with county personnel, and analyzing financial transactions.
7. Document all audit findings, including any instances of non-compliance or significant deficiencies in internal controls. These findings should be communicated to Montgomery County's management and included in the final audit report.
8. Prepare the final audit report, which should include an introductory section, a summary of audit results, a section on internal controls, a section on compliance with laws and regulations, a section on federal awards, and a summary of audit findings and recommendations.
9. Present the draft audit report to Montgomery County's management for review and feedback. Address any concerns or clarifications raised by the county's management before finalizing the report.
10. Submit the final audit report to Montgomery County's audit department within the specified deadline.
11. Follow up on any recommendations or corrective actions identified in the audit report to ensure they are implemented by Montgomery County's management.

Who needs montgomery county single audit?

1. Montgomery County single audit is typically required for government entities or organizations that receive federal funds or grants from Montgomery County.
2. This can include county departments, agencies, non-profit organizations, educational institutions, and healthcare providers that receive federal funding for various programs and services.
3. The purpose of the single audit is to ensure compliance with federal requirements, proper use of federal funds, and identification of any financial irregularities or mismanagement.
4. It serves as a means of accountability and transparency in the use of public funds and helps maintain the integrity of federal programs and grants.

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What is montgomery county single audit?

The Montgomery County Single Audit is an independent financial audit required for certain organizations that receive federal funding in Montgomery County, ensuring compliance with federal regulations and proper use of funds.

Who is required to file montgomery county single audit?

Organizations that expend $750,000 or more in federal funds during a fiscal year are required to file a Montgomery County Single Audit.

How to fill out montgomery county single audit?

To fill out the Montgomery County Single Audit, organizations need to complete the required forms, including financial statements and compliance checklists, and submit them to the appropriate county agencies by the deadline.

What is the purpose of montgomery county single audit?

The purpose of the Montgomery County Single Audit is to ensure that federal funds are spent in accordance with legal and regulatory requirements, enhancing transparency and accountability.

What information must be reported on montgomery county single audit?

The Montgomery County Single Audit must report on the financial statements, compliance with federal statutes and regulations, internal controls, and findings from the audit.