FAC Explorer

Audit 299203

FY End
2023-06-30
Total Expended
$981,186
Findings
18
Programs
9
Organization: Belmond-Klemme Community School District (IA)
Year: 2023 Accepted: 2024-03-28
Auditor: Rachelle K Thompson CPA PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
386885 2023-001 Material Weakness Yes P
386886 2023-001 Material Weakness Yes P
386887 2023-001 Material Weakness Yes P
386888 2023-001 Material Weakness Yes P
386889 2023-001 Material Weakness Yes P
386890 2023-001 Material Weakness Yes P
386891 2023-001 Material Weakness Yes P
386892 2023-001 Material Weakness Yes P
386893 2023-001 Material Weakness Yes P
963327 2023-001 Material Weakness Yes P
963328 2023-001 Material Weakness Yes P
963329 2023-001 Material Weakness Yes P
963330 2023-001 Material Weakness Yes P
963331 2023-001 Material Weakness Yes P
963332 2023-001 Material Weakness Yes P
963333 2023-001 Material Weakness Yes P
963334 2023-001 Material Weakness Yes P
963335 2023-001 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $347,965 Yes 1
10.555 National School Lunch Program $313,648 - 1
84.010 Title I Grants to Local Educational Agencies $171,781 Yes 1
10.553 School Breakfast Program $58,369 - 1
84.027 Special Education_grants to States $35,025 - 1
84.367 Improving Teacher Quality State Grants $23,892 - 1
84.048 Career and Technical Education -- Basic Grants to States $11,935 - 1
84.424 Student Support and Academic Enrichment Program $10,200 - 1
10.559 Summer Food Service Program for Children $8,371 - 1

Contacts

Name Title Type
J8B3PLTSFV76 Theresa Greenfield Auditee
6414447911 Rachelle Thompson Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 Accounting Policies: ACCRUAL OR MODIFIED ACCRUAL BASIS OF ACCOUNTING De Minimis Rate Used: Y Rate Explanation: THE AUDITEE USED THE DE MINIMIS COST RATE. EXPENDITURES REPORTED IN THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 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.

Finding Details

Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.
Finding 2023-001
SEGREGATION OF DUTIES: CRITERIA-MANAGEMENT IS RESPONSIBLE FOR ESTABLISHING AND MAINTAINING 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. CONDITION - AN INDEPENDENT PERSON DOES NOT OPEN THE MAIL AND PREPARE AN INITIAL LISTING OF THE CHECKS RECEIVED AND LATER COMPARE THE LISTING TO THE RECEIPTS ISSUED. ALSO, VOUCHERS ARE PROCESSED, CHECKS PREPARED AND DISBURSEMENTS ARE RECORDED BY THE SAME PERSON. IN ADDITION, RECONCILING AND PREPARING OF FINANCIAL REPORTING AND ENTERING ADJUSTING JOURNAL ENTRIES ARE ALL DONE BY THE SAME PERSON.