FAC Explorer

Audit 51284

FY End
2022-06-30
Total Expended
$1.63M
Findings
32
Programs
15
Organization: Cameron County School District (PA)
Year: 2022 Accepted: 2023-01-10
Auditor: Buffamante Whipple Buttafaro PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
47061 2022-002 Material Weakness Yes P
47062 2022-002 Material Weakness Yes P
47063 2022-002 Material Weakness Yes P
47064 2022-002 Material Weakness Yes P
47065 2022-002 Material Weakness Yes P
47066 2022-002 Material Weakness Yes P
47067 2022-002 Material Weakness Yes P
47068 2022-002 Material Weakness Yes P
47069 2022-002 Material Weakness Yes P
47070 2022-002 Material Weakness Yes P
47071 2022-002 Material Weakness Yes P
47072 2022-002 Material Weakness Yes P
47073 2022-002 Material Weakness Yes P
47074 2022-002 Material Weakness Yes P
47075 2022-002 Material Weakness Yes P
47076 2022-002 Material Weakness Yes P
623503 2022-002 Material Weakness Yes P
623504 2022-002 Material Weakness Yes P
623505 2022-002 Material Weakness Yes P
623506 2022-002 Material Weakness Yes P
623507 2022-002 Material Weakness Yes P
623508 2022-002 Material Weakness Yes P
623509 2022-002 Material Weakness Yes P
623510 2022-002 Material Weakness Yes P
623511 2022-002 Material Weakness Yes P
623512 2022-002 Material Weakness Yes P
623513 2022-002 Material Weakness Yes P
623514 2022-002 Material Weakness Yes P
623515 2022-002 Material Weakness Yes P
623516 2022-002 Material Weakness Yes P
623517 2022-002 Material Weakness Yes P
623518 2022-002 Material Weakness Yes P

Programs

ALN Program Spent Major Findings
84.425 Covid-19 - Crrsa, Esser II $720,900 Yes 1
10.555 Covid-19 - National School Lunch Program - Seamless Summer Option $296,060 - 1
84.010 Title I - Low Income $213,183 - 1
84.027 Idea, Part B Public Law 94-142 $132,919 - 1
10.553 Covid-19 - National School Breakfast Program - Seamless Summer Option $78,961 - 1
84.425 Covid-19 - Arp, Esser III $52,353 Yes 1
84.027 Covid-19 - Arp, Idea, Part B Public Law 94-142 $30,204 - 1
10.555 National School Lunch Program Noncash Assistance (commodities) $28,458 - 1
84.367 Title Iia - Improving Teacher Quality $26,296 - 1
10.555 Covid-19 - Supply Chain Assistance $15,195 - 1
84.424 Title IV - Student Support & Academic Enrichment $14,681 - 1
84.027 Covid-19, Idea Secim $6,840 - 1
84.173 Idea, Pre-School Public Law 99-457 $3,042 - 1
84.358 Title Vi - Rural and Low Income Schools $1,991 - 1
10.649 Covid-19 - P-Ebt Local Admin Funds $614 - 1

Contacts

Name Title Type
XG56CSDU2CM7 Carl Mitchell Auditee
8144864000 David V. Ditanna, CPA Auditor
No contacts on file

Notes to SEFA

Title: Note 2 - Non-monetary Federal Program Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Cameron County School District and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Basis of Accounting - The basis of accounting varies by Federal program consistent with underlying regulations pertaining to each program. The amounts reported as Federal expenditures generally were obtained from the appropriate Federal financial reports for applicable program and periods. The amounts reported in these Federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the District's financial reporting system. De Minimis Rate Used: N Rate Explanation: Indirect Cost Rate - The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year. The accompanying Cameron County School District is the recipient of a non-monetary federal award program. During the year ended June 30, 2022, the District reported in the Schedule of Federal Awards $28,458 of donated commodities at fair market value received and disbursed.
Title: Note 4 - COVID-19 Pandemic Related Grants Accounting Policies: Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Cameron County School District and is presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Basis of Accounting - The basis of accounting varies by Federal program consistent with underlying regulations pertaining to each program. The amounts reported as Federal expenditures generally were obtained from the appropriate Federal financial reports for applicable program and periods. The amounts reported in these Federal financial reports are prepared from records maintained for each program, which are periodically reconciled with the District's financial reporting system. De Minimis Rate Used: N Rate Explanation: Indirect Cost Rate - The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year. The District has received several COVID-19 pandemic related grants from the United States Department of Education. The grants permit eligible and allowable costs to be incurred between March 1, 2020 through September 30, 2023. On the current year schedule of federal awards, the District reported $224,163 of expenditures that were incurred during the 2020-21 school year.

Finding Details

Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.
Finding 2022-002
Adjusting Journal Entries, Required Disclosures and Draft Financial Statements Year ended June 30, 2022 Condition and Criteria: During the current year, adjusting journal entries, along with footnote disclosures were proposed by the auditors and accepted by the District to properly reflect the financial statements in accordance with generally accepted accounting principles. Some of the adjustments and footnotes were related to converting to the full accrual method for GASB 34 purposes. In addition, a draft of the financial statements was prepared by the auditors. Effect: AU-C Section 265 entitled Communicating Internal Control Related Matters in an Audit, issued by the American Institute of Certified Public Accountants (AICPA) considers the need for significant adjusting journal entries and assistance when preparing the financial statements to be indicative of an internal control deficiency. Without assistance, the potential exists of the District?s financial statement not conforming to GAAP. Auditor?s Recommendation: Although auditors may continue to provide such assistance both now and in the future, under the new pronouncement, the District should continue to review and accept both proposed adjusting journal entries and footnote disclosures, along with the draft financial statements. School District?s Response: The District has received, reviewed and approved all journal entries, footnote disclosures and draft financial statements proposed for the current year audit and will continue to review similar information in future years. Further, the District has a thorough understanding of these financial statements and the ability to make informed judgments on these financial statements. Lastly, the District considers such assistance provided by the auditors to be the most cost-effective approach to prepare such information.