FAC Explorer

Finding 1154875 (2024-006)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2024
Accepted
2025-09-24
Audit: 367217
Organization: Durham Public Schools (NC)
Auditor: Anderson Smith & Wike PLLC

AI Summary

  • Core Issue: Timely bank reconciliations were not completed, risking inaccurate financial reporting.
  • Impacted Requirements: Compliance with cash management controls was not met, affecting decision-making by the Board.
  • Recommended Follow-Up: Implement new controls to ensure monthly bank reconciliations are done on time, as agreed upon by management.

Finding Text

U.S. Department of Education Passed Through the N.C. Department of Public Instruction Program Names: COVID-19 – Education Stabilization Fund (AL #: 84.425)MATERIAL WEAKNESS Compliance – Cash Management Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data. Condition: State bank account reconciliations were not prepared in a timely manner during the year. Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting. Cause: Lack of oversight by management. Questioned costs: None. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: We recommend that management implement controls and procedures to ensure that State bank account reconciliations are performed in a timely manner each month. Views of responsible officials and planned corrective actions: The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.

Categories

Subrecipient Monitoring Cash Management Material Weakness Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1154868 2024-006
    Material Weakness Repeat
  • 1154869 2024-006
    Material Weakness Repeat
  • 1154870 2024-006
    Material Weakness Repeat
  • 1154871 2024-006
    Material Weakness Repeat
  • 1154872 2024-006
    Material Weakness Repeat
  • 1154873 2024-006
    Material Weakness Repeat
  • 1154874 2024-006
    Material Weakness Repeat
  • 1154876 2024-006
    Material Weakness Repeat
  • 1154877 2024-006
    Material Weakness Repeat
  • 1154878 2024-006
    Material Weakness Repeat
  • 1154879 2024-006
    Material Weakness Repeat
  • 1154880 2024-006
    Material Weakness Repeat
  • 1154881 2024-006
    Material Weakness Repeat
  • 1154882 2024-006
    Material Weakness Repeat
  • 1154883 2024-006
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.010 Title I Grants to Local Educational Agencies $13.34M
10.553 School Breakfast Program $3.69M
84.367 Improving Teacher Quality State Grants $1.81M
84.424 Student Support and Academic Enrichment Program $1.07M
84.048 Career and Technical Education -- Basic Grants to States $702,084
84.365 English Language Acquisition State Grants $650,993
10.582 Fresh Fruit and Vegetable Program $447,351
10.559 Summer Food Service Program for Children $311,105
84.287 Twenty-First Century Community Learning Centers $197,958
12.000 Rotc $194,779
84.173 Special Education_preschool Grants $110,866
84.196 Education for Homeless Children and Youth $91,560
84.425 Education Stabilization Fund $27,114
10.555 National School Lunch Program $16,714
84.027 Special Education_grants to States $919