FAC Explorer

Finding 1123731 (2024-001)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2024
Accepted
2025-03-31
Audit: 351593
Organization: Wilton Community School District (IA)
Auditor: Kay L Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial duties, which can lead to errors or fraud.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommend implementing clear roles for custody, record-keeping, and reconciliation to improve oversight.

Finding Text

The District did not properly segregate custody, record-keeping and reconciling functions for revenues and expenditures, including those related to federal programs. See 2024-001.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 547287 2024-001
    Material Weakness
  • 547288 2024-001
    Material Weakness
  • 547289 2024-001
    Material Weakness
  • 1123729 2024-001
    Material Weakness
  • 1123730 2024-001
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $245,773
84.425 Education Stabilization Fund $60,713
84.027 Special Education Grants to States $39,486
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $31,008
10.553 School Breakfast Program $17,478
84.010 Title I Grants to Local Educational Agencies $12,983
10.556 Special Milk Program for Children $8,652
84.048 Career and Technical Education -- Basic Grants to States $6,790
93.575 Child Care and Development Block Grant $5,043