FAC Explorer

Audit 40553

FY End
2022-08-31
Total Expended
$1.35M
Findings
4
Programs
8
Organization: Cushing Independent School District (TX)
Year: 2022 Accepted: 2022-11-20
Auditor: Axley & Rode LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
42436 2022-001 Significant Deficiency - A
42437 2022-001 Significant Deficiency - A
618878 2022-001 Significant Deficiency - A
618879 2022-001 Significant Deficiency - A

Programs

ALN Program Spent Major Findings
84.425 Education Stabilization Fund $426,464 Yes 1
10.555 National School Lunch Program $262,683 - 0
84.010 Title I Grants to Local Educational Agencies $154,707 - 0
10.553 School Breakfast Program $97,626 - 0
10.565 Commodity Supplemental Food Program $28,891 - 0
84.367 Improving Teacher Quality State Grants $20,866 - 0
84.358 Rural Education $8,599 - 0
84.424 Student Support and Academic Enrichment Program $5,961 - 0

Contacts

Name Title Type
REFFLNV5JV63 Cristin Crofford Auditee
9363264890 Eric Carver Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Basis of Presentation:The accompanying schedule of expenditures of federal awards includes the federal grant activity of Cushing Independent SchoolDistrict and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordancewith the requirements of Single Audit Act Amendments of 1996 and Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financialstatements.National School Lunch Program non-cash commodities are recorded at their estimated market value at the time of donation.The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-001
2022-01 - Segregation of Duties Condition: Due to the limited number of personnel and changes in staff during the period audited, a total segregation of certain accounting functions was not possible. Criteria: The District continues to establish procedures that would ensure proper segregation of certain accounting functions, especially, to limit the functions of recording, authorizing and custody. Effect: As a result, during the audit period, operation of procedures might not have allowed management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. Cause: The Board of Trustees and management is actively changing personnel responsibilities and procedures to limit the risk. Recommendation: We recommend that the Board of Trustees continue to monitor the internal accounting control procedures in use to assure that compensating controls are being utilized to provide assurance that assets are safeguarded and transactions are proper and recorded in a timely manner. These actions would mitigate, but not eliminate the risk of misstatement or misappropriation. Contact: Superintendent Timeframe: Ongoing
Finding 2022-001
2022-01 - Segregation of Duties Condition: Due to the limited number of personnel and changes in staff during the period audited, a total segregation of certain accounting functions was not possible. Criteria: The District continues to establish procedures that would ensure proper segregation of certain accounting functions, especially, to limit the functions of recording, authorizing and custody. Effect: As a result, during the audit period, operation of procedures might not have allowed management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. Cause: The Board of Trustees and management is actively changing personnel responsibilities and procedures to limit the risk. Recommendation: We recommend that the Board of Trustees continue to monitor the internal accounting control procedures in use to assure that compensating controls are being utilized to provide assurance that assets are safeguarded and transactions are proper and recorded in a timely manner. These actions would mitigate, but not eliminate the risk of misstatement or misappropriation. Contact: Superintendent Timeframe: Ongoing
Finding 2022-001
2022-01 - Segregation of Duties Condition: Due to the limited number of personnel and changes in staff during the period audited, a total segregation of certain accounting functions was not possible. Criteria: The District continues to establish procedures that would ensure proper segregation of certain accounting functions, especially, to limit the functions of recording, authorizing and custody. Effect: As a result, during the audit period, operation of procedures might not have allowed management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. Cause: The Board of Trustees and management is actively changing personnel responsibilities and procedures to limit the risk. Recommendation: We recommend that the Board of Trustees continue to monitor the internal accounting control procedures in use to assure that compensating controls are being utilized to provide assurance that assets are safeguarded and transactions are proper and recorded in a timely manner. These actions would mitigate, but not eliminate the risk of misstatement or misappropriation. Contact: Superintendent Timeframe: Ongoing
Finding 2022-001
2022-01 - Segregation of Duties Condition: Due to the limited number of personnel and changes in staff during the period audited, a total segregation of certain accounting functions was not possible. Criteria: The District continues to establish procedures that would ensure proper segregation of certain accounting functions, especially, to limit the functions of recording, authorizing and custody. Effect: As a result, during the audit period, operation of procedures might not have allowed management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. Cause: The Board of Trustees and management is actively changing personnel responsibilities and procedures to limit the risk. Recommendation: We recommend that the Board of Trustees continue to monitor the internal accounting control procedures in use to assure that compensating controls are being utilized to provide assurance that assets are safeguarded and transactions are proper and recorded in a timely manner. These actions would mitigate, but not eliminate the risk of misstatement or misappropriation. Contact: Superintendent Timeframe: Ongoing