FAC Explorer

Finding 379 (2022-003)

Material Weakness Repeat Finding
Requirement
ABEILN
Questioned Costs
-
Year
2022
Accepted
2023-10-18
Audit: 809
Organization: Iowa Falls Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: An employee has too much control over critical financial areas, risking incompatible duties.
  • Impacted Requirements: This violates the principle of segregation of duties, essential for effective internal controls.
  • Recommended Follow-Up: Review and adjust roles to ensure proper segregation of duties across cash, investments, and other areas.

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, manual journal entries and computer systems. See finding 2022-001.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 378 2022-003
    Material Weakness Repeat
  • 380 2022-003
    Material Weakness Repeat
  • 381 2022-003
    Material Weakness Repeat
  • 382 2022-003
    Material Weakness Repeat
  • 383 2022-003
    Material Weakness Repeat
  • 576820 2022-003
    Material Weakness Repeat
  • 576821 2022-003
    Material Weakness Repeat
  • 576822 2022-003
    Material Weakness Repeat
  • 576823 2022-003
    Material Weakness Repeat
  • 576824 2022-003
    Material Weakness Repeat
  • 576825 2022-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $995,532
10.555 National School Lunch Program $667,882
84.010 Title I Grants to Local Educational Agencies $183,948
10.553 School Breakfast Program $112,984
84.367 Improving Teacher Quality State Grants $30,923
84.424 Student Support and Academic Enrichment Program $11,575
10.559 Summer Food Service Program for Children $7,651
84.027 Special Education_grants to States $7,570
84.048 Career and Technical Education -- Basic Grants to States $6,407
10.649 Pandemic Ebt Administrative Costs $614