Finding Text
Criteria: Reporting. The accounts used to record expenditures on the quarterly expenditure reports should match the general ledger accounts where the expenditures are recorded. Condition: It was noted that there was an inconsistency when comparing the general ledger to what was reported on the expenditure reports. Questioned Costs: There are no questioned costs. Context: The accounts used to record expenditures on the quarterly expenditure reports did not match the general ledeger accounts. In total, approximately $141,593 of costs were posted to an account in the general ledger that did not match the final ISBE classification of expenditure reported for the year. No expenses were duplicated across another grant, and all expenses were allowable in the grant. Effect: The expenditures were not recorded/reported consistently between the District's financial records and the reports to ISBE. This makes the monitoring of budget to actual expense by grant line item difficult. Cause: Expenses claimed in the grant were incorrectly coded on the general ledger. Recommendation: We recommend that steps are taken, including oversight by a second employee, to reconcile the general ledger to the expenditure reports in detail before submission. We also recommend implementing a detailed reconciliation spreadsheet that lists claimed expenses by account. Management's Response: The District will add a verification process to reconcile the general ledger to the budget and expenditure reports before submitting.