This finding is recurring. CRITERIA: Financial Statements are the responsibility of the client and should be prepared by them including footnotes. CONDITION: The District does not have an internal control system available or the personnel with the needed expertise and knowledge to prepare the financial statements. The auditor's draft the financial statements and notes. The district's management reviews the draft financial statements. EFFECT: Management or employees in the normal course of performing their assigned functions may not prevent or detect financial statement misstatement in a timely manner. CAUSE: The District has no one with the necessary expertise to prepare the financial statements and footnotes. RECOMMENDATION: The District should retain an employee capable of preparing the financial statements and required footnotes. MANAGEMENT RESPONSE: Due to the size of the district, it is the decisionof management to accept this deficiency in light of the costs and other considerations.
This finding is recurring. CRITERIA: Per Illinois Compiled Statutes, the fund expenditures may not legally exceed the district's budgeted amounts. CONDITION: For the year ending 2023, actual expenditures for the Educational, Operations and Maintenance, Municipal Retirement/Social Security, and Tort funds exceeded the budget. CONTEXT: The approved budget established the authorized expenditures limitation in each fund. EFFECT: Actual expenditures exceeded the budget in the above named funds. CAUSE: Actual expenditures exceeded the budgeted amounts for the year RECOMMENDATION: A closer review of expenditures needs to be maintained and reflected in the amended budget. MANAGEMENT RESPONSE: The District will implement a better monitoring system between the budget and the actual expenditures to ensure that actual expenditrues do not exceed budgeted amounts. Principals are now assigned budgets. The principal approves expenditures to sent to Superintendent for secondary approval.
This finding is recurring. CRITERIA: Financial Statements are the responsibility of the client and should be prepared by them including footnotes. CONDITION: The District does not have an internal control system available or the personnel with the needed expertise and knowledge to prepare the financial statements. The auditor's draft the financial statements and notes. The district's management reviews the draft financial statements. EFFECT: Management or employees in the normal course of performing their assigned functions may not prevent or detect financial statement misstatement in a timely manner. CAUSE: The District has no one with the necessary expertise to prepare the financial statements and footnotes. RECOMMENDATION: The District should retain an employee capable of preparing the financial statements and required footnotes. MANAGEMENT RESPONSE: Due to the size of the district, it is the decisionof management to accept this deficiency in light of the costs and other considerations.
This finding is recurring. CRITERIA: Per Illinois Compiled Statutes, the fund expenditures may not legally exceed the district's budgeted amounts. CONDITION: For the year ending 2023, actual expenditures for the Educational, Operations and Maintenance, Municipal Retirement/Social Security, and Tort funds exceeded the budget. CONTEXT: The approved budget established the authorized expenditures limitation in each fund. EFFECT: Actual expenditures exceeded the budget in the above named funds. CAUSE: Actual expenditures exceeded the budgeted amounts for the year RECOMMENDATION: A closer review of expenditures needs to be maintained and reflected in the amended budget. MANAGEMENT RESPONSE: The District will implement a better monitoring system between the budget and the actual expenditures to ensure that actual expenditrues do not exceed budgeted amounts. Principals are now assigned budgets. The principal approves expenditures to sent to Superintendent for secondary approval.
This finding is recurring. CRITERIA: Financial Statements are the responsibility of the client and should be prepared by them including footnotes. CONDITION: The District does not have an internal control system available or the personnel with the needed expertise and knowledge to prepare the financial statements. The auditor's draft the financial statements and notes. The district's management reviews the draft financial statements. EFFECT: Management or employees in the normal course of performing their assigned functions may not prevent or detect financial statement misstatement in a timely manner. CAUSE: The District has no one with the necessary expertise to prepare the financial statements and footnotes. RECOMMENDATION: The District should retain an employee capable of preparing the financial statements and required footnotes. MANAGEMENT RESPONSE: Due to the size of the district, it is the decisionof management to accept this deficiency in light of the costs and other considerations.
This finding is recurring. CRITERIA: Per Illinois Compiled Statutes, the fund expenditures may not legally exceed the district's budgeted amounts. CONDITION: For the year ending 2023, actual expenditures for the Educational, Operations and Maintenance, Municipal Retirement/Social Security, and Tort funds exceeded the budget. CONTEXT: The approved budget established the authorized expenditures limitation in each fund. EFFECT: Actual expenditures exceeded the budget in the above named funds. CAUSE: Actual expenditures exceeded the budgeted amounts for the year RECOMMENDATION: A closer review of expenditures needs to be maintained and reflected in the amended budget. MANAGEMENT RESPONSE: The District will implement a better monitoring system between the budget and the actual expenditures to ensure that actual expenditrues do not exceed budgeted amounts. Principals are now assigned budgets. The principal approves expenditures to sent to Superintendent for secondary approval.
This finding is recurring. CRITERIA: Financial Statements are the responsibility of the client and should be prepared by them including footnotes. CONDITION: The District does not have an internal control system available or the personnel with the needed expertise and knowledge to prepare the financial statements. The auditor's draft the financial statements and notes. The district's management reviews the draft financial statements. EFFECT: Management or employees in the normal course of performing their assigned functions may not prevent or detect financial statement misstatement in a timely manner. CAUSE: The District has no one with the necessary expertise to prepare the financial statements and footnotes. RECOMMENDATION: The District should retain an employee capable of preparing the financial statements and required footnotes. MANAGEMENT RESPONSE: Due to the size of the district, it is the decisionof management to accept this deficiency in light of the costs and other considerations.
This finding is recurring. CRITERIA: Per Illinois Compiled Statutes, the fund expenditures may not legally exceed the district's budgeted amounts. CONDITION: For the year ending 2023, actual expenditures for the Educational, Operations and Maintenance, Municipal Retirement/Social Security, and Tort funds exceeded the budget. CONTEXT: The approved budget established the authorized expenditures limitation in each fund. EFFECT: Actual expenditures exceeded the budget in the above named funds. CAUSE: Actual expenditures exceeded the budgeted amounts for the year RECOMMENDATION: A closer review of expenditures needs to be maintained and reflected in the amended budget. MANAGEMENT RESPONSE: The District will implement a better monitoring system between the budget and the actual expenditures to ensure that actual expenditrues do not exceed budgeted amounts. Principals are now assigned budgets. The principal approves expenditures to sent to Superintendent for secondary approval.