FAC Explorer

Finding 33362 (2022-003)

Material Weakness Repeat Finding
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-19
Audit: 37055
Organization: Mfl Marmac Community School District (IA)
Auditor: Kay L Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial roles, which can lead to errors or fraud.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommend implementing clear role divisions for custody, record-keeping, and reconciliation to enhance financial controls.

Finding Text

The District did not properly segregated 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

  • 33363 2022-003
    Material Weakness Repeat
  • 33364 2022-003
    Material Weakness Repeat
  • 33365 2022-003
    Material Weakness Repeat
  • 609804 2022-003
    Material Weakness Repeat
  • 609805 2022-003
    Material Weakness Repeat
  • 609806 2022-003
    Material Weakness Repeat
  • 609807 2022-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $725,640
10.555 National School Lunch Program $505,431
10.553 School Breakfast Program $95,312
10.559 Summer Food Service Program for Children $57,250
84.027 Special Education_grants to States $35,281
84.367 Improving Teacher Quality State Grants $26,660
84.048 Career and Technical Education -- Basic Grants to States $12,407
84.424 Student Support and Academic Enrichment Program $10,000
84.010 Title I Grants to Local Educational Agencies $4,654
10.649 Pandemic Ebt Administrative Costs $614