Finding 1072837 (2022-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2024-09-11
Audit: 319292
Organization: Washington Parks Academy (MI)

AI Summary

  • Core Issue: The Academy's accounting data needed major adjustments to align with the general ledger during the audit.
  • Impacted Requirements: Internal controls failed to ensure accurate calculations and reconciliations as per generally accepted accounting principles.
  • Recommended Follow-Up: Implement monthly and yearly closing procedures for better account reconciliation and alignment with the general ledger.

Finding Text

Criteria The Academy’s internal control structure should ensure that the accounting data is appropriately calculated, reconciled, and reported in accordance with generally accepted accounting principles. Condition The Academy’s accounts required significant adjustments to the general ledger to properly reflect the appropriate balance after the books and records were presented for audit. Cause/Effect While the accounts were reconciled throughout the year, the reconciliations completed had certain instances where the year-end reconciliation process didn’t match to the general ledger. Recommendation The Academy should institute monthly and yearly closing procedures to ensure that all accounts are reconciled and match the general ledger.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 496395 2022-001
    Material Weakness Repeat
  • 496396 2022-002
    Material Weakness
  • 496397 2022-003
    Material Weakness
  • 496398 2022-004
    Material Weakness
  • 496399 2022-005
    Material Weakness
  • 496400 2022-006
    Material Weakness
  • 1072838 2022-002
    Material Weakness
  • 1072839 2022-003
    Material Weakness
  • 1072840 2022-004
    Material Weakness
  • 1072841 2022-005
    Material Weakness
  • 1072842 2022-006
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $320,537
84.010 Title I Grants to Local Educational Agencies $280,986
84.027 Special Education_grants to States $224,700
84.425 Education Stabilization Fund $114,436
84.367 Improving Teacher Quality State Grants $38,179
10.553 School Breakfast Program $35,280
10.565 Commodity Supplemental Food Program $34,604
10.649 Pandemic Ebt Administrative Costs $3,063