FAC Explorer

Finding 1168440 (2024-005)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2026-01-08
Audit: 380215
Organization: Fremont County School District No. 14 (WY)
Auditor: SUMMIT WEST CPA GROUP PC

AI Summary

  • Core Issue: Insufficient segregation of duties in accounting and bookkeeping due to limited staff at the start of the year.
  • Impacted Requirements: Proper assignment of accounting tasks to different individuals is necessary for safeguarding assets and ensuring accurate financial reporting.
  • Recommended Follow-Up: Monitor the effectiveness of new hires in maintaining proper segregation of duties moving forward.

Finding Text

SIGNIFICANT DEFICIENCY FINDING 2024-005 - SEGREGATION OF DUTIES Program information This finding applies to all federal awards. Repeat Finding from Prior Year Yes Condition The number of employees performing accounting and bookkeeping duties in the beginning of the year was not sufficient to provide an adequate segregation of duties. Criteria Circumstances permitting, accounting and bookkeeping duties should be assigned to different individuals to promote safeguarding of assets and accuracy of financial information. Context Noted throughout the finding. Cause The District has limited resources that minimize the possibility to segregate the functions within the business office and was in the process of hiring and filling positions to mitigate the associated risks. The positions were filled but during the beginning of the audit period there was a period when th is risk was present. Effect Because of the limited number of individuals involved in the accounting and bookkeeping functions, there is a greater risk that assets will not be properly safeguarded and that errors in financial information will occur and not be detected in a timely manner. This was only applicable to the beginning of the audit period before hires were made. Questioned Costs Not applicable Sampling Method Not applicable Recommendation None at th is time given adequate hires have been made. Response and Views of Responsible Officials See corrective action plan.

Corrective Action Plan

CORRECTIVE ACTION FINDING 2024-005 - SEGREGATION OF DUTIES Anticipated Date of Completion: December 31 , 2025 Name of Contact Person: Jordan Sarmo, Business Manager Management Response: The District will continue to refine the segregation of duties within the business office as staffing levels allow. With recently filled positions, the District will assign responsibil ities in a manner that reduces risk and ensures adequate separation of key accounting functions is maintained.

Categories

Significant Deficiency Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1168393 2024-003
    Material Weakness Repeat
  • 1168394 2024-004
    Material Weakness Repeat
  • 1168395 2024-005
    Material Weakness Repeat
  • 1168396 2024-003
    Material Weakness Repeat
  • 1168397 2024-004
    Material Weakness Repeat
  • 1168398 2024-005
    Material Weakness Repeat
  • 1168399 2024-003
    Material Weakness Repeat
  • 1168400 2024-004
    Material Weakness Repeat
  • 1168401 2024-005
    Material Weakness Repeat
  • 1168402 2024-003
    Material Weakness Repeat
  • 1168403 2024-004
    Material Weakness Repeat
  • 1168404 2024-005
    Material Weakness Repeat
  • 1168405 2024-003
    Material Weakness Repeat
  • 1168406 2024-004
    Material Weakness Repeat
  • 1168407 2024-005
    Material Weakness Repeat
  • 1168408 2024-003
    Material Weakness Repeat
  • 1168409 2024-004
    Material Weakness Repeat
  • 1168410 2024-005
    Material Weakness Repeat
  • 1168411 2024-003
    Material Weakness Repeat
  • 1168412 2024-004
    Material Weakness Repeat
  • 1168413 2024-005
    Material Weakness Repeat
  • 1168414 2024-003
    Material Weakness Repeat
  • 1168415 2024-004
    Material Weakness Repeat
  • 1168416 2024-005
    Material Weakness Repeat
  • 1168417 2024-003
    Material Weakness Repeat
  • 1168418 2024-004
    Material Weakness Repeat
  • 1168419 2024-005
    Material Weakness Repeat
  • 1168420 2024-003
    Material Weakness Repeat
  • 1168421 2024-004
    Material Weakness Repeat
  • 1168422 2024-005
    Material Weakness Repeat
  • 1168423 2024-003
    Material Weakness Repeat
  • 1168424 2024-004
    Material Weakness Repeat
  • 1168425 2024-005
    Material Weakness Repeat
  • 1168426 2024-003
    Material Weakness Repeat
  • 1168427 2024-004
    Material Weakness Repeat
  • 1168428 2024-005
    Material Weakness Repeat
  • 1168429 2024-003
    Material Weakness Repeat
  • 1168430 2024-004
    Material Weakness Repeat
  • 1168431 2024-005
    Material Weakness Repeat
  • 1168432 2024-003
    Material Weakness Repeat
  • 1168433 2024-004
    Material Weakness Repeat
  • 1168434 2024-005
    Material Weakness Repeat
  • 1168435 2024-003
    Material Weakness Repeat
  • 1168436 2024-004
    Material Weakness Repeat
  • 1168437 2024-005
    Material Weakness Repeat
  • 1168438 2024-003
    Material Weakness Repeat
  • 1168439 2024-004
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.041 IMPACT AID $6.44M
84.425 EDUCATION STABILIZATION FUND $1.99M
84.027 SPECIAL EDUCATION GRANTS TO STATES $372,256
84.060 INDIAN EDUCATION GRANTS TO LOCAL EDUCATIONAL AGENCIES $223,918
84.048 CAREER AND TECHNICAL EDUCATION -- BASIC GRANTS TO STATES $96,850
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $76,722
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $44,330
10.555 NATIONAL SCHOOL LUNCH PROGRAM $43,781
15.130 INDIAN EDUCATION ASSISTANCE TO SCHOOLS $34,776
10.553 SCHOOL BREAKFAST PROGRAM $7,322
84.173 SPECIAL EDUCATION PRESCHOOL GRANTS $1,698