FAC Explorer

Finding 1175261 (2025-003)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-02-25
Audit: 388984
Organization: Woodbine Community School District (IA)
Auditor: SCHROER & ASSOCIATES PC

AI Summary

  • Answer: The District failed to separate key financial duties, which increases the risk of errors and fraud.
  • Trend: This issue is consistent across various financial processes, including receipts and journal entries.
  • List: Immediate action is needed to implement proper segregation of duties to ensure compliance and enhance financial controls.

Finding Text

Segregation of Duties – The District did not properly segregate custody, record-keeping and reconciling functions for receipts, journal entries, and financial reporting including those related to federal programs

Corrective Action Plan

We will continue to review our procedures and implement controls when possible.

Categories

Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1175260 2025-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 NATIONAL SCHOOL LUNCH PROGRAM $147,944
16.045 COMMUNITY-BASED VIOLENCE INTERVENTION AND PREVENTION INITIATIVE $100,000
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $75,229
84.358 RURAL EDUCATION $54,024
10.553 SCHOOL BREAKFAST PROGRAM $28,298
84.425 EDUCATION STABILIZATION FUND $28,200
84.027 SPECIAL EDUCATION GRANTS TO STATES $22,706
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $10,818
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $10,000
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $9,548
84.048 CAREER AND TECHNICAL EDUCATION -- BASIC GRANTS TO STATES $9,032