FAC Explorer

Finding 1168634 (2025-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-01-09
Audit: 380577
Organization: West Carroll Community School District No 314 (IL)
Auditor: BENNING GROUP LLC

AI Summary

  • Core Issue: The District did not prepare accurate financial statements, leading to material audit adjustments.
  • Impacted Requirements: Compliance with the Illinois School Code and the Illinois Program Accounting Manual (IPAM) was not met.
  • Recommended Follow-Up: Review and enhance financial reporting processes to ensure accurate reporting of revenue and expenses.

Finding Text

The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2025 financial audit. Several 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

District has performed audit/adjustments/journal entries as directed. Additionally, accounting procedures/resources have been updated to avoid need for adjustments on further audits. In particular, the district's annual grant tracking spreadsheets have been updated to summarize the specific amount of reimbursement that should be desposited to each accounting fund which will allow the bookkeeper to more easily verify total grant throughout the year and at year end.

Categories

Special Tests & Provisions

Programs in Audit

ALN Program Name Expenditures
84.425 EDUCATION STABILIZATION FUND $475,462
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $382,307
10.555 NATIONAL SCHOOL LUNCH PROGRAM $349,927
84.173 SPECIAL EDUCATION PRESCHOOL GRANTS $250,258
10.553 SCHOOL BREAKFAST PROGRAM $175,107
93.778 MEDICAL ASSISTANCE PROGRAM $64,930
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $45,669
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $36,782
10.555 FRESH FRUITS AND VEGETABLES $30,557
84.027 SPECIAL EDUCATION GRANTS TO STATES $15,510
10.555 NON CASH COMMODITIES $12,103
84.048 CAREER AND TECHNICAL EDUCATION -- BASIC GRANTS TO STATES $6,812
10.558 CHILD AND ADULT CARE FOOD PROGRAM $6,791
84.358 RURAL EDUCATION $3,963
10.555 CHILD NUTURITION SUPPLY CHAIN ASSISSTANCE $1,257