FAC Explorer

Audit 48024

FY End
2022-06-30
Total Expended
$2.41M
Findings
6
Programs
17
Organization: Rockton School District No. 140 (IL)
Year: 2022 Accepted: 2023-03-02
Auditor: Benning Group LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
41986 2022-001 Significant Deficiency Yes P
41987 2022-002 - - P
41988 2022-003 - - L
618428 2022-001 Significant Deficiency Yes P
618429 2022-002 - - P
618430 2022-003 - - L

Programs

ALN Program Spent Major Findings
84.027 Special Education_grants to States $276,627 - 0
84.010 Title I Grants to Local Educational Agencies $236,422 - 0
84.425 Education Stabilization Fund Esser III $169,041 Yes 0
84.425 Education Stabilization Fund Esser De $96,094 Yes 0
84.027 Special Education_grants to States Arp Idea Ft $70,762 - 0
10.553 School Breakfast Program $40,010 - 0
84.367 Improving Teacher Quality State Grants Title II $38,963 - 0
10.555 Dod Fresh Fruits and Vegetables Program $28,487 - 0
10.555 Commodities Program $25,213 - 0
93.778 Medical Assistance Program $22,316 - 0
10.559 Summer Food Service Program for Children $20,093 - 0
84.173 Special Education_preschool Grants $11,414 - 0
84.424 Student Support and Academic Enrichment Program Title IV $10,460 - 0
84.173 Special Education_preschool Grants Arp Idea Pre-K $7,093 - 0
10.556 Special Milk Program for Children $1,007 - 0
10.649 Pandemic Ebt Administrative Costs $614 - 0
10.555 National School Lunch Program $120 - 0

Contacts

Name Title Type
LWP6NA744GG5 Glenn Terry Auditee
8156247143 Jenny Blocker Auditor
No contacts on file

Notes to SEFA

Title: Non cash assistance Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Rockton School District No. 140 and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the general purpose financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. See table in Notes to SEFA for information.

Finding Details

Finding 2022-001
The function of the District Treasurer is to review the accounting functions and provide a measure of oversight over daily procedures. The District bookkeeper also serves as the District treasurer. Segregation of duties essential for proper internal control over financial transactions is compromised when the same person functions in the capacity of both the person responsible for recording transactions and the person responsible for oversight of the financial procedures.
Finding 2022-002
One or more custodians of funds failed to comply with the bonding requirements of the Illinois School Code. The treasurer's bond in force was not sufficient to meet the bonding requirement for one month during fiscal year 2022. Illinois School Code requires the district treasurer to be bonded for at least 25% of the total funds in his/her custody.
Finding 2022-003
The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2022 financial audit. Several adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).
Finding 2022-001
The function of the District Treasurer is to review the accounting functions and provide a measure of oversight over daily procedures. The District bookkeeper also serves as the District treasurer. Segregation of duties essential for proper internal control over financial transactions is compromised when the same person functions in the capacity of both the person responsible for recording transactions and the person responsible for oversight of the financial procedures.
Finding 2022-002
One or more custodians of funds failed to comply with the bonding requirements of the Illinois School Code. The treasurer's bond in force was not sufficient to meet the bonding requirement for one month during fiscal year 2022. Illinois School Code requires the district treasurer to be bonded for at least 25% of the total funds in his/her custody.
Finding 2022-003
The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2022 financial audit. Several adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).