FAC Explorer

Finding 34384 (2022-001)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-04-05
Audit: 30210
Organization: Galena Unit School District #120 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District must ensure accurate financial statements, as significant adjustments were found during the 2022 audit.
  • Trend: Ongoing issues with reporting revenue and expenses highlight a need for improved compliance with the Illinois School Code and IPAM.
  • List: Follow up by reviewing financial reporting processes and providing training on compliance requirements.

Finding Text

The District is responsible for the preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2022 financial audit. Adjustments were needed to properly report certain items of revenue and expense in accordance with provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

The district will code architect fees related to the PK-8 construction project as capital outlay vs. purchased services. Tech expenses will be shifted from the 2900 account to the 2660. Under the new lease standards the total amount of the lease will need to be recorded as principle and interest in fund 40 instead of a purchased service. Tort fund expenditures of insurance and risk management items will change the account code in the future. See the full Corrective Action Plan included with the reporting package.

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser II $290,660
10.555 National School Lunch Program $270,038
84.027 Special Education_grants to States $219,900
32.009 Emergency Connectivity Fund Program $204,934
84.027 Special Education_grants to States Room & Board $186,660
84.425 Education Stabilization Fund Esser III $119,417
84.010 Title I Grants to Local Educational Agencies $109,039
10.553 School Breakfast Program $39,801
10.555 Noncash Food Commodity $33,934
84.367 Improving Teacher Quality State Grants $33,912
10.560 State Administrative Expenses for Child Nutrition $19,609
93.778 Medical Assistance Program $13,883
10.555 Fresh Fruits & Vegetables $13,319
84.173 Special Education_preschool Grants $9,323
84.424 Student Support and Academic Enrichment Program $6,228
10.555 National School Lunch Program Crrsa Child Nutrition $4,535
84.173 Special Education_preschool Grants Arp Idea Ps $1,715
10.649 Pandemic Ebt Administrative Costs $614