4. FEDERAL FUNDS SINGLE AUDIT ACT REPORTING

In order to meet the requirements of the Federal Single Audit Act, the Comptroller will annually compile a Schedule of Federal Financial Assistance. This schedule must include all State expenditures chargeable or reimbursable by the federal government, exclusive of those representing the "pass-through" of Federal funds to other State agencies, and aggregate these expenditures by federal program as defined in the Catalog of Federal Domestic Assistance.

Shortly after the close of the fiscal year agencies will be provided with reporting packages which are to be completed and returned by September 30. These reporting packages will include reports of expenditures generated by the Central Accounting System for restricted federal grants in the general and transportation funds and forms for reporting expenditures in other funds or appropriations which are federally financed or reimbursable.

Continued federal assistance is dependent on the State fulfilling its Single Audit requirements.

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