FAC Explorer

Finding 1168525 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-01-08
Audit: 380351
Organization: Meridian Community Unit School District #223 (IL)
Auditor: BENNING GROUP LLC

AI Summary

  • Answer: The District needs to improve the accuracy of its financial statements due to significant audit adjustments found during the 2025 audit.
  • Trend: Ongoing issues with financial reporting compliance have been noted, indicating a pattern that could affect future audits.
  • List: Follow up by reviewing financial reporting processes and ensuring alignment with the Illinois School Code and IPAM requirements.

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

The District acknowledges the finding and has posted all recommended adjustments. To prevent recurrence, management will implement a more thorough year-end review process. We will consult with our auditors and the Illinois State Board of Education (ISBE) regarding unique reporting situtations as they arise throughough the year. Additionally, staff will reference the Illinois Program Accounting Manual (IPAM) more frequently to ensure transactions are recorded in the proper accounts prior to the audit.

Categories

Special Tests & Provisions

Other Findings in this Audit

  • 1168526 2025-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
16.710 PUBLIC SAFETY PARTNERSHIP AND COMMUNITY POLICING GRANTS $500,000
84.027 SPECIAL EDUCATION GRANTS TO STATES $326,339
10.555 NATIONAL SCHOOL LUNCH PROGRAM $254,557
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $198,943
10.553 SCHOOL BREAKFAST PROGRAM $66,227
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $32,576
10.555 NON-CASH COMMODITIES $31,818
93.778 MEDICAL ASSISTANCE PROGRAM $23,990
10.555 FRESH FRUITS & VEGETABLES $23,107
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $13,710
20.200 HIGHWAY RESEARCH AND DEVELOPMENT PROGRAM $13,140
84.173 SPECIAL EDUCATION PRESCHOOL GRANTS $8,770
84.048 CAREER AND TECHNICAL EDUCATION -- BASIC GRANTS TO STATES $3,576
10.555 NATIONAL SCHOOL LUNCH - ARP CHILD NUTRITION SUPPLY CHAIN $2,374