FAC Explorer

Audit 336743

FY End
2024-08-31
Total Expended
$2.00M
Findings
2
Programs
13
Organization: Gordon-Rushville Public Schools (NE)
Year: 2024 Accepted: 2025-01-09
Auditor: Dana F Cole & Company LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
518361 2024-001 Material Weakness - P
1094803 2024-001 Material Weakness - P

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $895,948 Yes 1
84.010 Title I Grants to Local Educational Agencies $290,674 - 0
84.027 Special Education Grants to States $163,217 - 0
10.553 School Breakfast Program $109,623 - 0
84.287 Twenty-First Century Community Learning Centers $72,115 - 0
10.555 National School Lunch Program $47,727 - 0
84.060 Indian Education Grants to Local Educational Agencies $46,626 - 0
93.778 Medical Assistance Program $18,341 - 0
10.582 Fresh Fruit and Vegetable Program $17,110 - 0
10.559 Summer Food Service Program for Children $16,350 - 0
84.048 Career and Technical Education -- Basic Grants to States $13,071 - 0
84.173 Special Education Preschool Grants $4,881 - 0
84.424 Student Support and Academic Enrichment Program $1,000 - 0

Contacts

Name Title Type
FXNLEKA5CUY4 Nathan Livingston Auditee
3082821323 Michael Scow Auditor
No contacts on file

Notes to SEFA

Title: BASIS FOR EXPENDITURES REPORTED Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), includes the federal grant activity of the Gordon-Rushville Public Schools District No. 10, Gordon, Nebraska, under programs of the federal government for the year ended August 31, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Gordon-Rushville Public Schools District No. 10, Gordon, Nebraska, it is not intended to and does not present the financial position, changes in net position or cash flows of Gordon-Rushville Public Schools District No. 10, Gordon, Nebraska. The accompanying schedule of expenditures of federal awards is prepared on the basis of cash receipts and disbursements. Accordingly, reports are recognized when cash is received and disbursements 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 al limited to as to reimbursement. De Minimis Rate Used: N Rate Explanation: The District did not utilize the 10% de minimis cost rate for any federal programs Cash Disbursements - For certain federal programs, the District makes cash disbursements under the federal program specifically identified as federal program costs. For these federal programs, the District reports federal disbursements in the amount of cash disbursed and indirect costs claimed under the federal program. Cash Receipts - For certain federal programs, the District received payment at specified rates per unit of service rendered or product distributed. For theses federal programs, the District reports federal disbursements in the amount of cash received under the federal program. Value of Goods - For certain federal programs, the District received goods for use. For these federal programs, the District reports disbursements at the value of goods received.
Title: SUBRECIPIENTS Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), includes the federal grant activity of the Gordon-Rushville Public Schools District No. 10, Gordon, Nebraska, under programs of the federal government for the year ended August 31, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Gordon-Rushville Public Schools District No. 10, Gordon, Nebraska, it is not intended to and does not present the financial position, changes in net position or cash flows of Gordon-Rushville Public Schools District No. 10, Gordon, Nebraska. The accompanying schedule of expenditures of federal awards is prepared on the basis of cash receipts and disbursements. Accordingly, reports are recognized when cash is received and disbursements 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 al limited to as to reimbursement. De Minimis Rate Used: N Rate Explanation: The District did not utilize the 10% de minimis cost rate for any federal programs The District disbursed no award to subrecipients during the year.

Finding Details

Finding 2024-001
Criteria Accounting and financial duties should be segregated to reduce to a low level the ability of individuals to both commit and conceal instances of fraud. Condition and Context Proper segregation of accounting and financial duties are not sufficiently segregated to reduce the risk of fraud to an acceptable low level. Cause The District has a limited number of personnel involved in the accounting functions. Potential Effect Improper segregation of duties could cause misstatements, caused by error or fraud, to occur and not be detected. Recommendation The cost of additional personnel to properly segregate accounting and financial responsibilities would appear to outweigh the benefits received. However, management and the Board of Education should constantly be aware of the possibility that errors or fraud could occur and continue current practices mitigating these possibilities and examine and implement other mitigating controls when appropriate. Views of Responsible Officials and Planned Corrective Action The District understands the inherent risks associated with lack of segregation of accounting functions. The District requires monthly reporting to the Board of Education and the District superintendent to ensure transactions are recorded, and potential errors and irregularities are identified on a timely basis. The District has implemented procedures to limit the existence of, and mitigate risks associated with, nonsegregated accounting functions. The District has assessed the benefits and costs associated with additional requirements necessary to assure proper segregation of duties and has determined that cost would outweigh any benefits received.
Finding 2024-001
Criteria Accounting and financial duties should be segregated to reduce to a low level the ability of individuals to both commit and conceal instances of fraud. Condition and Context Proper segregation of accounting and financial duties are not sufficiently segregated to reduce the risk of fraud to an acceptable low level. Cause The District has a limited number of personnel involved in the accounting functions. Potential Effect Improper segregation of duties could cause misstatements, caused by error or fraud, to occur and not be detected. Recommendation The cost of additional personnel to properly segregate accounting and financial responsibilities would appear to outweigh the benefits received. However, management and the Board of Education should constantly be aware of the possibility that errors or fraud could occur and continue current practices mitigating these possibilities and examine and implement other mitigating controls when appropriate. Views of Responsible Officials and Planned Corrective Action The District understands the inherent risks associated with lack of segregation of accounting functions. The District requires monthly reporting to the Board of Education and the District superintendent to ensure transactions are recorded, and potential errors and irregularities are identified on a timely basis. The District has implemented procedures to limit the existence of, and mitigate risks associated with, nonsegregated accounting functions. The District has assessed the benefits and costs associated with additional requirements necessary to assure proper segregation of duties and has determined that cost would outweigh any benefits received.