FAC Explorer

Finding 1168191 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-01-07
Audit: 379980
Organization: Winnebago Cusd #323 (IL)
Auditor: BENNING GROUP LLC

AI Summary

  • Answer: The District must ensure accurate financial statements, as significant audit adjustments were found.
  • Trend: This issue highlights ongoing challenges in financial reporting compliance with the Illinois School Code and IPAM.
  • List: Follow up on training for staff on financial reporting standards and review processes to prevent future adjustments.

Finding Text

The District is responsible for the preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2025 financial audit. Adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

Continued understanding is still needed from prior fiscal years. We have improved but more leanring and improvement is needed. We will continue to review account numbers throughout the year to better understand what journal entries need to be made.

Categories

Special Tests & Provisions

Other Findings in this Audit

  • 1168192 2025-002
    Material Weakness Repeat
  • 1168193 2025-003
    Material Weakness Repeat
  • 1168194 2025-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $344,731
84.027 SPECIAL EDUCATION GRANTS TO STATES $319,582
10.555 NATIONAL SCHOOL LUNCH PROGRAM $218,884
93.778 MEDICAL ASSISTANCE PROGRAM $43,981
84.425 EDUCATION STABILIZATION FUND $43,571
10.555 NON CASH COMMODITIES $35,557
84.173 SPECIAL EDUCATION PRESCHOOL GRANTS $33,289
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $28,731
10.553 SCHOOL BREAKFAST PROGRAM $23,656
10.555 FRESH FRUITS & VEGETABLES $14,691
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $8,211
10.555 CHILD NUTURTION SUPPLY CHAIN $1,962