A local government has four federal grants. Expenditures amounted to $1,000,000 during the year that ended June 30, 2003, as follows:
Type A HHS grant, audited last year, no major findings $400,000
HHS grant, new this year and never audited 350,000
Type B Department of Transportation 205,000
FFA 45,000
Total all funds $1,000,000
a. Which grants would the auditor be required to audit, assuming the government is not found to be low risk?
b. Which grants would the auditor be required to audit, assuming the government is found to be low risk?
Click here for the solution: A local government has four federal grants
