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There are several areas subject to Federal audits when the use of government funds are involved in College purchases. Information concerning these areas may be found by visiting the following sites:
Office of Management and Budget Circular A 110
Covers standards set forth for obtaining consistency and uniformity among Federal agencies in the administration of grants with institutions of higher education.
Office of Management and Budget Circular A 21
Establishes principles for determining cost applicable to Federal grants, contracts and other sponsored agreements with educational institutions.
Office of Management and Budget Circular A 133
Set forth standards for obtaining consistency and uniformity among Federal agencies for the audit of States, local governments and non-profit organizations expending Federal awards.
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