According to Uniform Guidance, 2 CFR 200.501(a), non-federal entities that spend federal grant funds are required to submit an audit if they meet the following spending thresholds:
* $750,000 or more for Fiscal Years starting before October 1, 2024
* $1,000,000 or more for Fiscal Years starting on or after October 1, 2024
Please see 2 CFR 200.502 for information regarding loans as expenditures. Direct any questions of interpretation to the contact for your Federal Oversight or Cognizant Agency.