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Rumors of Federal Single Audit Threshold being reduced back down?
I recently heard that the current legislation is in the process of 1) reducing the Federal Single Audit threshold back down to $750k and 2) reducing the indirect rate back down to 10%.
This information comes from a reliable source (the organization’s focus is on capacity building advocacy for non-profits in the state, so they are typically very in-tuned to local and federal policies), but I wasn’t at the meeting so wasn’t able to ask questions about where they go this info from. Some quick searching didn’t lead me to a single source suggesting this was in the works, but I was curious if anyone else in the forum has heard something similar.Thanks!
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