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Land Bank discusses potential for federal single audit as grant activity increases
Summary
Board members reviewed audit thresholds and whether increased grant activity could trigger a federal single audit; Chair Rachel Nelson will provide recommendations in July after review of thresholds and auditor options.
Rachel Nelson, Chair of the Manistee County Land Bank Authority, opened discussion about audit requirements on March 16, 2026, noting the Authority has historically been included in Manistee County’s audit but that increased grant activity may trigger a federal single audit. Members discussed audit thresholds, the value of an auditor familiar with Land Bank operations, and whether an independent audit would be beneficial.
The board agreed to revisit the matter at a future date. Ms. Nelson will present recommendations in July addressing whether to remain within the county audit, seek a separate independent auditor, or prepare for federal single-audit requirements if grant volume meets the federal threshold.
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