Connecticut General Statutes/Title 4/Chapter 55b/Section 4-231

CGS § 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.

(b) Notwithstanding any provision of the general statutes or any regulation adopted under any provision of the general statutes, each nonstate entity that expends total state financial assistance of less than five hundred thousand dollars in any fiscal year of such nonstate entity beginning on or after July 1, 2024, shall be exempt with respect to such fiscal year from complying with any statutory or regulatory requirements concerning financial or financial and compliance audits that would otherwise apply to such nonstate entity.

(c) No provision of this section shall be deemed to exempt a nonstate entity from complying with any statutory or regulatory provision requiring such nonstate entity to (1) maintain records concerning state financial assistance, or (2) provide access to such records to a state agency.

Short History

(P.A. 91-401, S. 2, 20; P.A. 92-121, S. 1, 3; May 25 Sp. Sess. P.A. 94-1, S. 43, 130; P.A. 98-143, S. 18, 24; Sept. Sp. Sess. P.A. 09-7, S. 45; P.A. 24-132, S. 11.)

Long History

History: P.A. 92-121 amended Subsec. (a) by requiring each municipality and audited agency subject to the federal Single Audit Act to have a comprehensive audit each fiscal year and delaying the compliance of the single comprehensive audit for certain nonprofit agencies for one year; May 25 Sp. Sess. P.A. 94-1 amended Subsec. (a)(1) by making technical changes, effective July 1, 1994; P.A. 98-143 deleted all former provisions and substituted new provisions re auditing requirements, effective June 4, 1998, and applicable to audits conducted for fiscal years commencing on and after July 1, 1998; Sept. Sp. Sess. P.A. 09-7 amended Subsec. (a) to increase total state financial assistance from $100,000 to $300,000, delete provision re biennial audit and make a conforming change in Subdiv. (1) and add proviso re financial statement audit in Subdiv. (2), and amended Subsec. (b) to increase total state financial assistance from $100,000 to $300,000 and make a conforming change, effective October 5, 2009; P.A. 24-132 amended Subsecs. (a)(1) and (b) to increase total state financial assistance from $300,000 to $500,000, and made technical and conforming changes throughout, effective July 1, 2024.

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