Coronavirus Relief Fund Application of the Single Audit Act to Alaska Native Corporations

Summary

A Coronavirus Relief Fund document on the application of the Single Audit Act to Alaska Native Corporations, dated July 5, 2022. It states that the Coronavirus Relief Fund established by the CARES Act reserved $8 billion to make payments to tribal governments. It states that the Supreme Court ruled on June 25, 2021, in Yellen v. Confederated Tribes of the Chehalis Reservation, that Alaska Native regional and village corporations are considered Indian tribes under the Indian Self-Determination and Education Assistance Act and are eligible for payments from the Fund. It states that Treasury, in consultation with the Office of Management and Budget, has determined that these corporations are subject to the Single Audit Act requirements.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Issuer: Congressional materials
Document type: Audit Report
Case: Department Of The Treasury Coronavirus Relief Fund Application Of The Single Audit Act To Alaska Nat Fa276B603D

Cite this document

“Coronavirus Relief Fund Application of the Single Audit Act to Alaska Native Corporations.” Original at home.treasury.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/department-of-the-treasury-coronavirus-relief-fund-application-of-the-single-audit-act-to-alaska-nat-fa276b603d/, SHA-256 1f4e48c7a03afadc92cca490ea74863fe6a47e02298ead35179a7fc60ef05ca8.

Full text

                                Coronavirus Relief Fund
           Application of the Single Audit Act to Alaska Native Corporations
                                      July 5, 2022


The Coronavirus Relief Fund (CRF) established by the Coronavirus Aid, Relief, and Economic
Security Act (CARES Act) reserved $8 billion to make payments to tribal governments. On June
25, 2021, the Supreme Court held in Yellen v. Confederated Tribes of the Chehalis Reservation
that Alaska Native regional and village corporations (ANCs) are considered Indian tribes under
the Indian Self-Determination and Education Assistance Act (ISDEA) and are thus eligible for
payments from the CRF. Consistent with this ruling, Treasury, in consultation with Office of
Management and Budget (OMB), has determined that ANCs are subject to the requirements of the
Single Audit Act and its implementing regulations, 2 CFR Part 200, Subpart F, with respect to
payments received from the CRF.
Due to the delayed determination, OMB has approved a six-month audit submission extension for
fiscal year 2021 for ANCs that received payments from the CRF directly or indirectly as a
subrecipient. Please note that if an ANC is required to conduct an audit under the Single Audit Act
based on awards received from other federal awarding agencies, the more stringent deadline must
be followed.
The Single Audit Act and its implementing regulations at 2 CFR Part 200, Subpart F, require a
non-federal entity that expends $750,000 or more in federal awards in its fiscal year to conduct a
single audit or program-specific audit. These audits are intended to provide assurance to federal
awarding agencies that the non-federal entity has adequate internal controls in place and is
generally in compliance with the program requirements.
Non-federal entities subject to an audit under 2 CFR Part 200, Subpart F include states, local
governments, Indian tribes, universities, and non-profit organizations that carry out a federal award
as a recipient or subrecipient.
ANCs should submit their single audits or program-specific audits through the Federal Audit
Clearinghouse (FAC) as Indian tribes. Pursuant to 2 CFR 200.512(b)(2), Indian tribes and tribal
organizations may opt not to authorize the FAC to make the reporting package publicly available.
The table below summarizes the extended deadlines for various fiscal year-ends:
       Fiscal Year-End                Single Audit Deadline          Extended Deadline Due to
                                                                      Delayed Determination
          09/30/2021                        06/30/2022                      12/31/2022
          12/31/2021                        09/30/2022                      03/31/2023
          06/30/2022                        03/31/2023                      09/30/2023




                                                                                                   1

File and source

File: department-of-the-treasury-coronavirus-relief-fund-application-of-the-single-audit-act-to-alaska-nat-fa276b603d.pdf
Size: 35,515 bytes
SHA-256: 1f4e48c7a03afadc92cca490ea74863fe6a47e02298ead35179a7fc60ef05ca8
Our copy: department-of-the-treasury-coronavirus-relief-fund-application-of-the-single-audit-act-to-alaska-nat-fa276b603d.pdf
Original: home.treasury.gov