FAC Explorer

Finding 3682 (2022-002)

Material Weakness Repeat Finding
Requirement
ABFL
Questioned Costs
-
Year
2022
Accepted
2023-12-07
Audit: 5765
Organization: Ikm-Manning Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: One employee has too much control over critical financial areas, increasing the risk of errors or fraud.
  • Impacted Requirements: This violates the principle of segregation of duties, which is essential for effective internal controls.
  • Recommended Follow-Up: Reassess and redistribute responsibilities to ensure no single employee manages incompatible duties.

Finding Text

One important aspect of the internal control structure is the segregation of duties among employees to prevent an individual employee from handling duties which are incompatible. We noted one individual has control over portions of one or more of the following areas for the District relating to major federal programs; cash, investments, receipts, payroll and financial reporting. See finding 2022-001.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 3681 2022-002
    Material Weakness Repeat
  • 580123 2022-002
    Material Weakness Repeat
  • 580124 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $454,135
84.425 Education Stabilization Fund $351,733
84.010 Title I Grants to Local Educational Agencies $112,489
10.553 School Breakfast Program $59,716
84.367 Improving Teacher Quality State Grants $18,494
84.048 Career and Technical Education -- Basic Grants to States $16,447
84.424 Student Support and Academic Enrichment Program $10,000
84.027 Special Education_grants to States $4,820
10.649 Pandemic Ebt Administrative Costs $614