U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.
U.S. Department of Education
Passed Through the N.C. Department of Public Instruction
Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)
Special Education Cluster (AL #’s: 84.027 and 84.173)
Title I, Grants to Local Educational Agencies (AL #: 84.010)
SIGNIFICANT DEFICIENCY
Compliance – Cash Management
Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data.
Condition: State bank account reconciliations were not prepared in a timely manner during the year.
Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting.
Cause: The June 30, 2022 audit could not be completed until late March, 2023 due to account reconciliations having to be finalized. Therefore, the account reconciliation process for the 2022-2023 year was already approximately nine months behind at the conclusion of the 2022 audit. Management implemented controls and procedures during the 2022-2023 year to address this issue and has worked diligently to catch-up these reconciliations for the 2022-2023 year.
Question costs: None.
Identification of a repeat finding: This is a repeat finding from the immediate previous audit, Finding 22-05.
Recommendation: Management has indicated that with the controls and procedures put in place during the 2022-2023 year, the district is now almost current with its monthly reconciliation processes. We recommend that management continue to monitor and review these monthly reconciliations to ensure that all general ledger accounts are being reconciled in a timely manner.
Views of responsible officials and planned corrective actions:
The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.