Finding 1150381 (2024-002)

Material Weakness Repeat Finding

Requirement

ABL

Questioned Costs

-

Year

2024

Accepted

2025-08-20

Audit: 364567

Organization: Lamoni Community School District (IA)

Auditor: Nolte Cornman & Johnson

AI Summary

Core Issue: One employee has too much control over multiple financial areas, which increases the risk of errors or fraud.
Impacted Requirements: This violates the principle of segregation of duties, essential for effective internal controls.
Recommended Follow-Up: Reassign responsibilities to ensure that no single employee manages incompatible duties.

Finding Text

One important aspect of internal accounting control 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 one or more of the following areas for the District relating to federal programs; cash, investments, receipts, disbursements, capital assets, financial reporting, school lunch program and journal entries. See finding 2024-001.

Programs in Audit

ALN	Program Name	Expenditures
84.425	Education Stabilization Fund	$336,828
10.555	National School Lunch Program	$155,958
84.010	Title I Grants to Local Educational Agencies	$143,020
84.287	Twenty-First Century Community Learning Centers	$62,539
93.600	Head Start	$53,820
10.553	School Breakfast Program	$37,948
84.358	Rural Education	$36,606
84.367	Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants)	$26,447
84.027	Special Education Grants to States	$17,155
84.424	Student Support and Academic Enrichment Program	$11,298
84.048	Career and Technical Education -- Basic Grants to States	$9,998
10.582	Fresh Fruit and Vegetable Program	$8,911
10.559	Summer Food Service Program for Children	$7,748
10.579	Child Nutrition Discretionary Grants Limited Availability	$3,382

Finding 1150381 (2024-002)

AI Summary

Finding Text

Categories

Other Findings in this Audit

Programs in Audit