STATE OF UTAH SINGLE AUDIT REPORT

June 30, 2014

The Federal Government requires the State of Utah to have an entity-wide audit of its financial statements and its federal programs as a condition of receiving federal financial assistance. The federally-required audit is commonly referred to as the “single audit.” The single audit focuses on testing compliance with laws and regulations and testing related internal control over compliance for major programs. The requirements for performing the single audit are stated in the U.S. Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. OMB Circular A-133 requires a risk-based approach to auditing federal programs. Under the risk-based approach, programs are classified as Type A or Type B programs based on a dollar level computed in accordance with Circular A-133. Type A programs for the State are those programs which exceeded $15,350,000 in federal awards expended for the fiscal year ended June 30, 2014. All other programs are classified as Type B. For the year ended June 30, 2014, 24 Type A and 7 Type B programs were audited as major programs in accordance with OMB Circular A-133 requirements.

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