FAC Explorer

Audit 21608

FY End
2022-06-30
Total Expended
$1.12M
Findings
4
Programs
8
Organization: Nashua-Plainfield Community School District (IA)
Year: 2022 Accepted: 2023-03-05
Auditor: Kay Chapman CPA PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
24150 2022-001 Material Weakness Yes BL
24151 2022-002 Material Weakness - BL
600592 2022-001 Material Weakness Yes BL
600593 2022-002 Material Weakness - BL

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $511,624 Yes 2
10.553 School Breakfast Program $379,287 - 0
84.010 Title I Grants to Local Educational Agencies $78,913 - 0
84.358 Rural Education $40,055 - 0
84.027 Special Education_grants to States $27,158 - 0
84.367 Improving Teacher Quality State Grants $18,450 - 0
84.424 Student Support and Academic Enrichment Program $10,516 - 0
84.048 Career and Technical Education -- Basic Grants to States $8,683 - 0

Contacts

Name Title Type
NPLAPH6SLCK3 Brittnay McNeil Auditee
6413454835 Kay L Chapman Auditor
No contacts on file

Notes to SEFA

Title: Segregation of Duties Accounting Policies: Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting. 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. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. The District did not properly segregate custody, record-keeping and reconciling functions for revenues and expenditures, including those related to federal programs.
Title: Reporting Meal Counts for Reimbursement Accounting Policies: Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting. 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. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. I noted that meal counts reported to the Iowa Department of Education for federal reimbursement/funding did not agree with the daily meal counts maintained by the District. I tested five months of reporting and noted that one month was incorrectly reported.

Finding Details

Finding 2022-001
Management is responsible for establishing and maintammg internal control. A good system of internal control provides for adequate segregation of duties so no one individual handles a transaction from its inception to completion. In order to maintain proper internal control, duties should be segregated so the authorization, custody and recording of transactions are not under the control of the same employee. This segregation of duties helps prevent losses from employee error or dishonesty and maximizes the accuracy of the District's financial statements.
Finding 2022-002
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements of the financial statements on a timely basis. Properly designed policies and procedures and implementation of the policies and procedures are an integral part of ensuring the reliability and accuracy of the District's financial statements.
Finding 2022-001
Management is responsible for establishing and maintammg internal control. A good system of internal control provides for adequate segregation of duties so no one individual handles a transaction from its inception to completion. In order to maintain proper internal control, duties should be segregated so the authorization, custody and recording of transactions are not under the control of the same employee. This segregation of duties helps prevent losses from employee error or dishonesty and maximizes the accuracy of the District's financial statements.
Finding 2022-002
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements of the financial statements on a timely basis. Properly designed policies and procedures and implementation of the policies and procedures are an integral part of ensuring the reliability and accuracy of the District's financial statements.