FAC Explorer

Finding 34086 (2022-001)

Material Weakness Repeat Finding
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-08
Audit: 32726
Organization: Louisa-Muscatine Community School District (IA)
Auditor: Kay 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 change to improve internal control.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 34087 2022-001
    Material Weakness Repeat
  • 610528 2022-001
    Material Weakness Repeat
  • 610529 2022-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $491,106
84.425 Education Stabilization Fund $286,416
10.553 School Breakfast Program $100,035
84.010 Title I Grants to Local Educational Agencies $34,553
84.027 Special Education_grants to States $32,128
84.367 Improving Teacher Quality State Grants $16,979
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $4,957