FAC Explorer

Finding 1081301 (2024-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2024-11-07
Audit: 327603
Organization: Winnebago Cusd #323 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District needs to improve its financial statement preparation due to material audit adjustments found in FY 2024.
  • Trend: Ongoing issues with reporting revenue and expenses accurately, as highlighted by the recent audit findings.
  • List: Follow up on compliance with the Illinois School Code and IPAM to ensure accurate financial reporting moving forward.

Finding Text

The District is responsible for the preparation of accurate financial statements. Material audit adjustments were identified during the 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 Illinois 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 E3 $1.06M
84.027 Special Education Grants to States $347,562
84.425 Education Stabilization Fund D4 $333,736
10.555 National School Lunch Program $218,165
84.010 Title I Grants to Local Educational Agencies $119,329
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $60,722
10.555 Non-Cash Food Commodity Program $36,740
10.555 Arp Child Nutrition Supply Chain $35,519
93.778 Medical Assistance Program $28,142
84.424 Student Support and Academic Enrichment Program $24,786
10.553 School Breakfast Program $19,311
84.173 Special Education Preschool Grants $16,480
10.555 Fresh Fruits and Vegetables $7,839
10.649 Pandemic Ebt Administrative Costs $3,256