The Single Audit, also known as the OMB A-133 audit, is an organization-wide audit of an entity that expends $750,000 or more of Federal grants received for its operations. The Single Audit's objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, and non-profit organizations. The audit is performed by an independent auditor and a Single Audit Report is issued annually showing the City's expenditures of Federal awards.