FAC Explorer

Finding 36314 (2022-007)

Material Weakness
Requirement
C
Questioned Costs
-
Year
2022
Accepted
2023-03-29
Audit: 26556
Organization: Cumberland County Board of Education (NC)
Auditor: Anderson Smith and Wike PLLC

AI Summary

  • Core Issue: Timely bank reconciliations were not completed, risking inaccurate financial decisions.
  • Impacted Requirements: Compliance with cash management controls was not met, affecting the Board's decision-making.
  • Recommended Follow-Up: Implement new controls to ensure monthly bank reconciliations are done on time.

Finding Text

Finding 22-07 U.S. Department of Education Passed Through the N.C. Department of Public Instruction Program Names: COVID-19 ? Education Stabilization Fund (AL #: 84.425) Special Education Cluster (AL #?s: 84.027 and 84.173) MATERIAL WEAKNESS Compliance ? Cash Management Criteria: Controls should ensure that bank reconciliations are prepared in a timely manner each month to enable the Board to make timely decisions based upon accurate data. Condition: State bank account reconciliations were not prepared in a timely manner during the year. Effect: Since bank account reconciliations were not performed in a timely manner, management decisions could have been made by the Board while relying upon inaccurate financial reporting. Cause: Lack of oversight by management. Questioned costs: None. Identification of a repeat finding: This is not a repeat finding from the immediate previous audit. Recommendation: We recommend that management implement controls and procedures to ensure that State bank account reconciliations are performed in a timely manner each month. Views of responsible officials and planned corrective actions: The Board of Education agrees with this finding. Management will take the necessary actions as described in the Corrective Action Plan.

Corrective Action Plan

Finding 22-07 Name of Contact Person: Jay Toland, Associate Superintendent of Business Operations Corrective Action Plan: The finding resulted from significant turnover within the Finance Department. Management will establish procedures to ensure that all bank account and other required reconciliations are prepared on a timely basis going forward. The Finance department will also strive to keep key positions filled at all times and ensure that staff receives appropriate training regarding reconciliations. Proposed Completion Date: Immediately

Categories

Subrecipient Monitoring Cash Management Material Weakness Reporting Internal Control / Segregation of Duties

Other Findings in this Audit

  • 36294 2022-006
    - Repeat
  • 36295 2022-006
    - Repeat
  • 36296 2022-006
    - Repeat
  • 36297 2022-006
    - Repeat
  • 36298 2022-006
    - Repeat
  • 36299 2022-006
    - Repeat
  • 36300 2022-006
    - Repeat
  • 36301 2022-006
    - Repeat
  • 36302 2022-006
    - Repeat
  • 36303 2022-006
    - Repeat
  • 36304 2022-006
    - Repeat
  • 36305 2022-006
    - Repeat
  • 36306 2022-006
    - Repeat
  • 36307 2022-006
    - Repeat
  • 36308 2022-006
    - Repeat
  • 36309 2022-006
    - Repeat
  • 36310 2022-006
    - Repeat
  • 36311 2022-006
    - Repeat
  • 36312 2022-006
    - Repeat
  • 36313 2022-006
    - Repeat
  • 36315 2022-007
    Material Weakness
  • 36316 2022-007
    Material Weakness
  • 36317 2022-007
    Material Weakness
  • 36318 2022-007
    Material Weakness
  • 36319 2022-007
    Material Weakness
  • 36320 2022-007
    Material Weakness
  • 36321 2022-007
    Material Weakness
  • 36322 2022-007
    Material Weakness
  • 36323 2022-007
    Material Weakness
  • 36324 2022-007
    Material Weakness
  • 36325 2022-007
    Material Weakness
  • 36326 2022-007
    Material Weakness
  • 36327 2022-007
    Material Weakness
  • 36328 2022-007
    Material Weakness
  • 36329 2022-007
    Material Weakness
  • 36330 2022-007
    Material Weakness
  • 36331 2022-007
    Material Weakness
  • 612736 2022-006
    - Repeat
  • 612737 2022-006
    - Repeat
  • 612738 2022-006
    - Repeat
  • 612739 2022-006
    - Repeat
  • 612740 2022-006
    - Repeat
  • 612741 2022-006
    - Repeat
  • 612742 2022-006
    - Repeat
  • 612743 2022-006
    - Repeat
  • 612744 2022-006
    - Repeat
  • 612745 2022-006
    - Repeat
  • 612746 2022-006
    - Repeat
  • 612747 2022-006
    - Repeat
  • 612748 2022-006
    - Repeat
  • 612749 2022-006
    - Repeat
  • 612750 2022-006
    - Repeat
  • 612751 2022-006
    - Repeat
  • 612752 2022-006
    - Repeat
  • 612753 2022-006
    - Repeat
  • 612754 2022-006
    - Repeat
  • 612755 2022-006
    - Repeat
  • 612756 2022-007
    Material Weakness
  • 612757 2022-007
    Material Weakness
  • 612758 2022-007
    Material Weakness
  • 612759 2022-007
    Material Weakness
  • 612760 2022-007
    Material Weakness
  • 612761 2022-007
    Material Weakness
  • 612762 2022-007
    Material Weakness
  • 612763 2022-007
    Material Weakness
  • 612764 2022-007
    Material Weakness
  • 612765 2022-007
    Material Weakness
  • 612766 2022-007
    Material Weakness
  • 612767 2022-007
    Material Weakness
  • 612768 2022-007
    Material Weakness
  • 612769 2022-007
    Material Weakness
  • 612770 2022-007
    Material Weakness
  • 612771 2022-007
    Material Weakness
  • 612772 2022-007
    Material Weakness
  • 612773 2022-007
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.425 Arp- Esser III - K-12 Emergency Relief Fund $38.73M
10.555 Seamless Summer Program $32.67M
84.010 Title I Grants to Local Educational Agencies $19.80M
84.425 Crrsa-K12 Emergency Relief Fund-Esser II $17.00M
21.027 Coronavirus State and Local Fiscal Recovery Funds $10.69M
84.027 Grants to States- Idea, Part B (611) $9.64M
84.041 Impact Aid $4.12M
84.425 Arp-Esser III-Teacher Bonuses $3.69M
84.425 Cares Act- K-12 Emergency Relief Fund - Esser I $3.19M
10.555 National School Lunch Program (commodities) $1.92M
84.367 Supporting Effective Instruction State Grant $1.78M
84.424 Student Support and Academic Enrichment Program $1.42M
84.425 Cares Act - Geer I - Specialized Instructional Support Personnel for Covid-19 Response $1.17M
84.048 Career and Technical Education -- Basic Grants to States Program Development $1.02M
10.555 Supply Chain Assistance Funds $914,699
84.425 Cares Act - Geer I- Supplemental Instructional Services $641,184
12.000 Rotc $621,659
10.559 Summer Food Service Program for Children $517,722
84.425 Cares Act - Esser I - Digital Curricula $360,067
84.425 Cares Act - Esser I - Exceptional Children Grants $312,490
10.582 Fresh Fruit and Vegetable Program $303,967
84.425 Crrsa-Esser II- School Nutrition Covid Support $297,467
84.060 Indian Education $249,930
84.425 Crrsa - Esser II - Summer Career Accelerator Program $238,683
21.019 Coronavirus Relief Fund $189,845
84.173 Preschool Grants - Idea, Part B (619) $189,809
84.027 Special Needs Targeted Assistance $147,730
10.555 After School Snack Program $110,265
12.556 K-12 Student Achievement at Military-Connected Schools $106,352
84.365 Language Acquisition State Grants $99,237
84.196 Education for Homeless Children and Youth $74,520
84.027 Arp- Grants to States - Idea, Part B (611) $71,414
10.579 Child Nutrition Discretionary Grants $38,814
84.425 Crrsa-Esser II - Learning Loss Funding $30,821
84.173 Arp-Preschool Grants - Idea, Part B (619) $19,367
93.235 Abstinence Education $16,339
84.425 Cares Act - Esser 1 - Learning Management System $14,654
84.173 Special Education_preschool Grants $8,254