FAC Explorer

Finding 1218459 (2023-003)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2023
Accepted
2026-06-24
Audit: 404750
Organization: Southeast Idaho Council of Governments, INC (ID)
Auditor: DEATON & COMPANY CHARTERED

AI Summary

  • Core Issue: Monthly bank account reconciliations were not completed on time, leading to potential inaccuracies in financial reporting.
  • Impacted Requirements: Timeliness of reconciliations is crucial to detect errors and unauthorized transactions effectively.
  • Recommended Follow-Up: Implement a schedule to ensure reconciliations are performed promptly each month to mitigate risks.

Finding Text

Material Weakness: As discussed on Finding 2023-001, we noted monthly reconciliations of bank accounts to the general ledger during the fiscal year ended September 30, 2023 were not being completed on a timely basis. Failure to perform timely reconciliations increases the risk that errors, misstatements, or unathorized transactions may not be detected and corrected promptly and could result in inaccurate financial reporting.

Corrective Action Plan

SICOG hired an internal Director of Fiscal Operations responsible for the reconciliations instead of a consultant, also simplified the reconciliation process by consolidating accounts and financial institutions whenever possible.

Categories

Material Weakness Reporting

Other Findings in this Audit

  • 1218454 2023-003
    Material Weakness Repeat
  • 1218455 2023-005
    Material Weakness Repeat
  • 1218456 2023-003
    Material Weakness Repeat
  • 1218457 2023-004
    Material Weakness Repeat
  • 1218458 2023-005
    Material Weakness Repeat
  • 1218460 2023-004
    Material Weakness Repeat
  • 1218461 2023-005
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
11.307 ECONOMIC ADJUSTMENT ASSISTANCE $1.24M
93.045 SPECIAL PROGRAMS FOR THE AGING, TITLE III, PART C, NUTRITION SERVICES $855,306
10.767 INTERMEDIARY RELENDING PROGRAM $235,421
93.044 SPECIAL PROGRAMS FOR THE AGING, TITLE III, PART B, GRANTS FOR SUPPORTIVE SERVICES AND SENIOR CENTERS $234,379
93.053 NUTRITION SERVICES INCENTIVE PROGRAM $108,629
11.302 ECONOMIC DEVELOPMENT SUPPORT FOR PLANNING ORGANIZATIONS $90,913
93.052 NATIONAL FAMILY CAREGIVER SUPPORT, TITLE III, PART E $78,949
93.747 ELDER ABUSE PREVENTION INTERVENTIONS PROGRAM $75,663
20.513 ENHANCED MOBILITY OF SENIORS AND INDIVIDUALS WITH DISABILITIES $72,836
93.072 LIFESPAN RESPITE CARE PROGRAM $53,257
93.048 SPECIAL PROGRAMS FOR THE AGING, TITLE IV, AND TITLE II, DISCRETIONARY PROJECTS $21,364
20.205 HIGHWAY PLANNING AND CONSTRUCTION $13,244
93.071 MEDICARE ENROLLMENT ASSISTANCE PROGRAM $8,327
93.043 SPECIAL PROGRAMS FOR THE AGING, TITLE III, PART D, DISEASE PREVENTION AND HEALTH PROMOTION SERVICES $7,864
93.042 SPECIAL PROGRAMS FOR THE AGING, TITLE VII, CHAPTER 2, LONG TERM CARE OMBUDSMAN SERVICES FOR OLDER INDIVIDUALS $5,248
66.818 BROWNFIELDS MULTIPURPOSE, ASSESSMENT, REVOLVING LOAN FUND, AND CLEANUP COOPERATIVE AGREEMENTS $4,118
20.509 FORMULA GRANTS FOR RURAL AREAS AND TRIBAL TRANSIT PROGRAM $764