FAC Explorer

Finding 1176883 (2025-002)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2025
Accepted
2026-03-08
Audit: 390734
Organization: Pleasant Valley School District No. 62 (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 Illinois Program Accounting Manual (IPAM) was not met.
  • Recommended Follow-Up: Review and enhance financial reporting processes to ensure accuracy and compliance in future audits.

Finding Text

The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2054 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 Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

The District will review prior year audit entries to ensure all necessary entries have been posted in a timely manner with the addition of any current audit entries for the 2024-2025 school year.

Categories

Special Tests & Provisions

Other Findings in this Audit

  • 1176882 2025-001
    Material Weakness Repeat
  • 1176884 2025-003
    Material Weakness Repeat
  • 1176885 2025-004
    Material Weakness Repeat
  • 1176886 2025-005
    Material Weakness Repeat
  • 1176887 2025-006
    Material Weakness Repeat
  • 1176888 2025-007
    Material Weakness Repeat
  • 1176889 2025-008
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.553 SCHOOL BREAKFAST PROGRAM $136,027
84.027 SPECIAL EDUCATION GRANTS TO STATES $103,805
84.010 TITLE I GRANTS TO LOCAL EDUCATIONAL AGENCIES $102,349
10.555 NATIONAL SCHOOL LUNCH PROGRAM $80,778
93.778 MEDICAL ASSISTANCE PROGRAM $78,512
84.425 EDUCATION STABILIZATION FUND $73,977
84.424 STUDENT SUPPORT AND ACADEMIC ENRICHMENT PROGRAM $40,976
84.367 SUPPORTING EFFECTIVE INSTRUCTION STATE GRANTS (FORMERLY IMPROVING TEACHER QUALITY STATE GRANTS) $35,272
10.582 FRESH FRUIT AND VEGETABLE PROGRAM $29,945
10.555 NON-CASH COMMODITIES $10,358
10.555 FRESH FRUITS & VEGETABLES FAVORS $7,392
84.173 SPECIAL EDUCATION PRESCHOOL GRANTS $5,396
10.555 ARP CHILD NUTRITION EMERGENCY FUNDING $662