Finding Text
Criteria: The function and object codes on ISBE expenditure submissions should match the actual expenditures on the District's accounting records. Condition: Function and object codes per the District's ISBE expenditure report submissions did not match the District's accounting records. Questioned Costs: None. Context: The District's 4th quarter expenditures submission reported $189,278 for function 2450 and object 300. The actual expenditure was recorded to function 2530 and object 500. Effect: Function and object codes for actual expenditures did not match the ISBE submission. Cause: There was a lack of oversight by the Superintendent on the preparation of the quarterly expenditure reports along with the supporting documentation used to prepare them by the bookkeeper. Additionally, recorded expenditures had to be reclassified to conform with ISBE reporting requirements. Recommendation: We recommend that the Superintendent review the quarterly expenditure reports and supporting documentation to ensure all costs are reported timely and accurately. Management's Response: The Superintendent will review the quarterly reports submitted to ISBE and agree with the Districts' accounting software before they are submitted.