Audit Information
Federally Sponsored Accounts
The Office of Management and Budget (OMB) Uniform Guidance Subpart F requires an annual external audit of non-profits receiving federal funds. A sample of federal awards and their direct cost transactions are selected for testing (auditing) to determine that expenditures and procedures were appropriate, allowable, and allocable to the award. Specifically, that they were:
- In accordance with sponsor terms and conditions
- In accordance with OMB Uniform Administrative Requirements (Subpart D)
- In accordance with the OMB Uniform Cost Principles (Subpart E)
Non-Federally Sponsored Accounts
Non-federal sponsors will, from time to time, audit sponsored accounts to ensure that the fiscal requirements they impose on the award are being adhered to. To ensure compliance you should review and follow the sponsor's requirements as stipulated in the award.
Importance of Auditing
All federal and increasingly non-federal sponsors look at the Single Audit as a "report card" of how UL Lafayette spends its money. Audit findings are reported to the federal government and become public record; they are distributed to all federal agencies through the federal clearinghouse. Each department performing sponsored research must ensure that the reported expenditures are appropriate for the terms and conditions of the award, as well as federal cost principles/administrative requirements and University policies.
UL Lafayette Annual Financial Statements
Year ending June 30, 2018 (Pending)
Year ending June 30, 2017
Year ending June 30, 2016
Year ending June 30, 2015
UL Lafayette Audit Reports
2018 Louisiana Single Audit (Pending)
2017 Louisiana Single Audit
2016 Louisiana Single Audit
2015 Louisiana Single Audit