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Current as of January 02, 2025 | Updated by Findlaw Staff
SASPs, if they donate $500,000 or more in Federal property to a donee in a fiscal year, must ensure that the donee has an audit performed in accordance with Circular A–133. If a donee receives less than $500,000 in donated property, the SASP is not expected to assume responsibility for ensuring the donee meets audit requirements, beyond making sure the donee is aware that the requirements do exist. It is the donee's responsibility to identify and determine the amount of Federal assistance it has received and to arrange for audit coverage.
Cite this article: FindLaw.com - Code of Federal Regulations Title 41. Public Contracts and Property Management § 41.102–37.355 What obligations does a SASP have to ensure that donees meet Circular A–133 requirements? - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-41-public-contracts-and-property-management/cfr-sect-41-102-37-355/
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