FAC Explorer

Finding 1164320 (2023-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2025-12-10
Audit: 373746
Organization: Consolidated Public Water Supply District No 1 of Clark County Mo (MO)
Auditor: HARDEN CUMMINS MOSS & MILLER LLC

AI Summary

  • Core Issue: The district lacks qualified personnel to prepare financial statements according to accounting standards.
  • Impacted Requirements: This affects compliance with generally accepted accounting principles, especially regarding pension-related disclosures.
  • Recommended Follow-Up: Consider hiring or training staff with the necessary expertise to ensure accurate financial reporting.

Finding Text

Auditing standards require us to inform you that Consolidated Public Water Supply District No. 1 of Clark County, Missouri, does not have personnel with capable expertise to prepare financial statements and related footnote disclosures in accordance with generally accepted accounting principles, particularly the adjustments and disclosures for the defined benefit net pension asset and deferred outflows and deferred inflows related to pensions.

Corrective Action Plan

Management has the skill, knowledge and experience regarding the District operations to understand and take responsibility for the financial statements.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 1164321 2023-002
    Material Weakness Repeat
  • 1164322 2023-003
    Material Weakness Repeat
  • 1164323 2023-004
    Material Weakness Repeat
  • 1164324 2023-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.760 WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES $1.89M