FAC Explorer

Finding 36326 (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.

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
  • 36314 2022-007
    Material Weakness
  • 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
  • 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