Glossary / Single Audit
What is Single Audit?
A rigorous audit required for nonprofits that expend $750,000 or more in federal awards in a fiscal year.
Simple definition
A rigorous audit required for nonprofits that expend $750,000 or more in federal awards in a fiscal year. Governed by the Uniform Guidance (2 CFR 200). Tests compliance with federal grant requirements.
Why it matters for your nonprofit
Boards, auditors, and funders expect clarity on Single Audit because it affects how you report resources, stay compliant, and explain your financial story.
How it shows up in daily work
You will see Single Audit in board packets, grant reports, and donor conversations. The goal is to record activity once and report it consistently—without rebuilding spreadsheets every month.
Common mistakes
- Treating restricted resources like general cash because the chart of accounts is not set up for funds.
- Letting finance and development use different definitions for the same funds.
- Waiting until year-end to fix coding errors that should be caught monthly.
How Alignmint helps
Alignmint ties fund accounting, donor records, and reporting in one place so terms like Single Audit show up correctly in your books—not only in a policy memo.
FAQ
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