FAC Explorer

Finding 1079700 (2024-001)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2024-10-21
Audit: 325310
Organization: River Bend C.u.s.d. #2 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The district needs to improve its financial statement preparation to avoid material audit adjustments.
  • Trend: Ongoing issues with revenue and expense reporting indicate a pattern of inaccuracies.
  • List: Ensure compliance with the Illinois School Code and IPAM in future financial reporting.

Finding Text

The district is responsible for preparation of accurate financial statements. Material audit adjustments were identified during fiscal year 2024 financial audit. Adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illlinois School Code and the Illinois Program Accounting Manual (IPAM).

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser III $304,981
84.027 Special Education Grants to States $278,590
10.555 National School Lunch Program $225,212
84.010 Title I Grants to Local Educational Agencies $130,432
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $36,378
10.553 School Breakfast Program $33,649
10.555 Non-Cash Food Commodity $32,357
10.555 Arp Nutrition Supply Chain $29,934
84.424 Student Support and Academic Enrichment Program $14,158
84.173 Special Education Preschool Grants $13,220
93.778 Medical Assistance Program $10,846
10.555 Fresh Fruits and Vegetables $7,945
84.425 Education Stabilization Fund Esser II $2,888
10.649 Pandemic Ebt Administrative Costs $653