Connecticut General Statutes Title 4. Management of State Agencies § 4-231. Single audit or program-specific audit requirements. Exemption. Records

(a)(1) Each nonstate entity that expends a total amount of state financial assistance equal to or in excess of five hundred thousand dollars in any fiscal year of such nonstate entity beginning on or after July 1, 2024, shall have either a single audit or a program-specific audit made for such fiscal year, in accordance with the provisions of subdivision (2) or (3) of this subsection, as applicable, and the requirements of regulations adopted pursuant to section 4-236.

(2) If the total amount of state financial assistance expended in any such fiscal year is for a single program, such nonstate entity may elect to have a program-specific audit made in lieu of a single audit, provided no grant agreement or statutory or regulatory provision governing the program of state financial assistance requires a financial statement audit of such nonstate entity.

(3) If the total amount of state financial assistance expended in any such fiscal year is for more than one program, such entity shall have a single audit made for such fiscal year.