FAC Explorer

Audit 16666

FY End
2022-08-31
Total Expended
$1.06M
Findings
4
Programs
11
Organization: Dundy County Stratton Public Schools District No. 117 (NE)
Year: 2022 Accepted: 2022-12-04
Auditor: Dana F Cole & Company LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
12300 2022-004 Significant Deficiency - L
12301 2022-004 Significant Deficiency - L
588742 2022-004 Significant Deficiency - L
588743 2022-004 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $509,647 Yes 1
84.027 Special Education_grants to States $97,170 - 0
84.010 Title I Grants to Local Educational Agencies $89,935 - 0
10.553 School Breakfast Program $42,667 - 0
84.367 Improving Teacher Quality State Grants $25,305 - 0
84.358 Rural Education $20,876 - 0
93.778 Medical Assistance Program $20,463 - 0
10.555 National School Lunch Program $15,285 - 0
10.582 Fresh Fruit and Vegetable Program $8,479 - 0
10.559 Summer Food Service Program for Children $3,203 - 0
84.173 Special Education_preschool Grants $1,712 - 0

Contacts

Name Title Type
UR3PFMMGADD5 Ronda Sargent Auditee
3084232738 Mitchell Inman Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The schedule of expenditures of federal awards is prepared on the modified cash basis of accounting. Such expenditures are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the Schedule at fair market value of the commodities received and disbursed. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-004
SECTION III. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS 2022-004 INTERNAL CONTROL OVER SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS PREPARATION AND REVIEW Criteria As described in our engagement letter, management is responsible for establishing and maintaining internal controls, including monitoring, and for the fair presentation of the schedule of expenditures of federal awards, including the notes to the schedule of expenditures of federal awards, in conformity with the modified cash basis of accounting. Condition The District does not have a system of internal control that would provide management with reasonable assurance that the District's schedule of expenditures of federal awards and related disclosures are complete and presented in accordance with the modified cash basis of accounting. As such, management requested us to compile the trial balance from the general ledger and prepare a draft of the schedule of expenditures of federal awards, including the related note disclosures. Cause Management does not prepare the schedule of expenditures of federal awards in accordance with the modified cash basis of accounting. Potential Effect The potential exists that a material misstatement of the schedule of expenditures of federal awards could occur and not be prevented or detected by the District's internal control. Recommendation We recommend that the District review and approve the proposed auditor adjusting entries and the adequacy of schedule of the expenditures of federal awards disclosures prepared by the auditors and apply analytic procedures to the draft financial statements, among other procedures as considered necessary by management.
Finding 2022-004
SECTION III. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS 2022-004 INTERNAL CONTROL OVER SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS PREPARATION AND REVIEW Criteria As described in our engagement letter, management is responsible for establishing and maintaining internal controls, including monitoring, and for the fair presentation of the schedule of expenditures of federal awards, including the notes to the schedule of expenditures of federal awards, in conformity with the modified cash basis of accounting. Condition The District does not have a system of internal control that would provide management with reasonable assurance that the District's schedule of expenditures of federal awards and related disclosures are complete and presented in accordance with the modified cash basis of accounting. As such, management requested us to compile the trial balance from the general ledger and prepare a draft of the schedule of expenditures of federal awards, including the related note disclosures. Cause Management does not prepare the schedule of expenditures of federal awards in accordance with the modified cash basis of accounting. Potential Effect The potential exists that a material misstatement of the schedule of expenditures of federal awards could occur and not be prevented or detected by the District's internal control. Recommendation We recommend that the District review and approve the proposed auditor adjusting entries and the adequacy of schedule of the expenditures of federal awards disclosures prepared by the auditors and apply analytic procedures to the draft financial statements, among other procedures as considered necessary by management.
Finding 2022-004
SECTION III. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS 2022-004 INTERNAL CONTROL OVER SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS PREPARATION AND REVIEW Criteria As described in our engagement letter, management is responsible for establishing and maintaining internal controls, including monitoring, and for the fair presentation of the schedule of expenditures of federal awards, including the notes to the schedule of expenditures of federal awards, in conformity with the modified cash basis of accounting. Condition The District does not have a system of internal control that would provide management with reasonable assurance that the District's schedule of expenditures of federal awards and related disclosures are complete and presented in accordance with the modified cash basis of accounting. As such, management requested us to compile the trial balance from the general ledger and prepare a draft of the schedule of expenditures of federal awards, including the related note disclosures. Cause Management does not prepare the schedule of expenditures of federal awards in accordance with the modified cash basis of accounting. Potential Effect The potential exists that a material misstatement of the schedule of expenditures of federal awards could occur and not be prevented or detected by the District's internal control. Recommendation We recommend that the District review and approve the proposed auditor adjusting entries and the adequacy of schedule of the expenditures of federal awards disclosures prepared by the auditors and apply analytic procedures to the draft financial statements, among other procedures as considered necessary by management.
Finding 2022-004
SECTION III. FEDERAL AWARD FINDINGS AND QUESTIONED COSTS 2022-004 INTERNAL CONTROL OVER SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS PREPARATION AND REVIEW Criteria As described in our engagement letter, management is responsible for establishing and maintaining internal controls, including monitoring, and for the fair presentation of the schedule of expenditures of federal awards, including the notes to the schedule of expenditures of federal awards, in conformity with the modified cash basis of accounting. Condition The District does not have a system of internal control that would provide management with reasonable assurance that the District's schedule of expenditures of federal awards and related disclosures are complete and presented in accordance with the modified cash basis of accounting. As such, management requested us to compile the trial balance from the general ledger and prepare a draft of the schedule of expenditures of federal awards, including the related note disclosures. Cause Management does not prepare the schedule of expenditures of federal awards in accordance with the modified cash basis of accounting. Potential Effect The potential exists that a material misstatement of the schedule of expenditures of federal awards could occur and not be prevented or detected by the District's internal control. Recommendation We recommend that the District review and approve the proposed auditor adjusting entries and the adequacy of schedule of the expenditures of federal awards disclosures prepared by the auditors and apply analytic procedures to the draft financial statements, among other procedures as considered necessary by management.