If a school district accepts more than $500,000 in federal revenues, it must submit what is known as a “Single Audit” report to the federal government and to the monies’ “pass-through entity” (the unit of government — often the state — that first received the federal dollars and sent them to the district).[397] The federal government’s Office of Management and Budget has provided audit guidelines to both state and local units of government.[398]
Lawrence W. Reed's comments from our 20th anniversary gala.
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