FAC Explorer

Finding 1120828 (2024-002)

Material Weakness
Requirement
ABFL
Questioned Costs
-
Year
2024
Accepted
2025-03-31
Audit: 351035
Organization: Easton Valley Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: One employee has too much control over critical financial areas, increasing the risk of errors or fraud.
  • Impacted Requirements: Segregation of duties is not being properly implemented, which is essential for internal controls.
  • Recommended Follow-Up: Review and adjust responsibilities to ensure no single employee manages incompatible duties.

Finding Text

One important aspect of the internal control structure is the segregation of duties among employees to prevent an individual employee from handling duties which are incompatible. We noted one individual has control over portions of one or more of the following areas for the District relating to major federal programs; cash, investments, receipts, disbursements, payroll, wire transfers, financial reporting, journal entries and the school nutrition program. See finding 2024-001.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 544386 2024-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
66.045 Clean School Bus Program $1.17M
10.555 National School Lunch Program $175,972
84.425 Education Stabilization Fund $98,535
84.010 Title I Grants to Local Educational Agencies $95,408
84.287 Twenty-First Century Community Learning Centers $94,202
84.358 Rural Education $46,250
10.553 School Breakfast Program $45,325
84.027 Special Education Grants to States $24,765
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $19,353
84.424 Student Support and Academic Enrichment Program $11,298
10.185 Local Food for Schools Cooperative Agreement Program $3,975
84.048 Career and Technical Education -- Basic Grants to States $1,740