FAC Explorer

Finding 36072 (2022-001)

Material Weakness Repeat Finding
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-05
Audit: 31975
Organization: Galva-Holstein Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: One person is handling multiple financial tasks, which raises concerns about internal controls.
  • Trend: This practice can lead to increased risk of errors or fraud due to lack of oversight.
  • List: Recommend separating duties among different individuals to enhance accountability and security.

Finding Text

Condition - I noted that the same individual performed the following duties: recording and processing of cash receipts, preparing checks and bank reconciliations, preparation of journals and general financial information for ledger posting, and the analysis of financial information.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 36071 2022-001
    Material Weakness Repeat
  • 36073 2022-001
    Material Weakness Repeat
  • 612513 2022-001
    Material Weakness Repeat
  • 612514 2022-001
    Material Weakness Repeat
  • 612515 2022-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $323,602
84.425 Education Stabilization Fund $276,575
84.126 Rehabilitation Services_vocational Rehabilitation Grants to States $106,365
10.553 School Breakfast Program $83,141
84.010 Title I Grants to Local Educational Agencies $61,673
10.559 Summer Food Service Program for Children $42,549
84.358 Rural Education $42,216
84.027 Special Education_grants to States $20,733
84.367 Improving Teacher Quality State Grants $13,128
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $6,299
93.558 Temporary Assistance for Needy Families $6,000
84.365 English Language Acquisition State Grants $600