FAC Explorer

Finding 31568 (2022-002)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-22
Audit: 35913
Organization: East Buchanan Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial duties, which is a significant control weakness.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommended actions include implementing proper segregation of duties and regular audits to ensure compliance.

Finding Text

The District did not properly segregate custody, record-keeping and reconciling functions for revenues and expenditures, including those related to federal programs.

Corrective Action Plan

We have reviewed procedures and plan to make the necessary changes to improve internal control.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 31569 2022-002
    Material Weakness
  • 608010 2022-002
    Material Weakness
  • 608011 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $365,991
84.425 Education Stabilization Fund $272,792
84.010 Title I Grants to Local Educational Agencies $80,600
10.553 School Breakfast Program $67,533
84.358 Rural Education $40,951
84.027 Special Education_grants to States $25,238
93.600 Head Start $13,861
84.367 Improving Teacher Quality State Grants $11,834
84.424 Student Support and Academic Enrichment Program $10,696
84.048 Career and Technical Education -- Basic Grants to States $4,113