FAC Explorer

Finding 384491 (2023-002)

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Requirement
P
Questioned Costs
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Year
2023
Accepted
2024-03-26
Audit: 297604
Organization: Lena - Winslow C.u.s.d. #202 (IL)
Auditor: Benning Group LLC

AI Summary

  • Issue: Some fund custodians did not meet bonding requirements set by the Illinois School Code.
  • Trend: For one month in fiscal year 2023, the treasurer's bond was insufficient.
  • Follow-up: Ensure the treasurer's bond meets the requirement of at least 25% of total funds in custody.

Finding Text

One or more custodians of funds failed to comply with the bonding requirements of the Illinois School Code. The treasurer's bond in force was not sufficient to meet the bonding requirement for one month during fiscal year 2023. The Illinois School Code requires the district treasurer to be bonded for at least 25% of the total funds in his/her custody.

Corrective Action Plan

The district will be more aware of ensuring they have an adequate treasurer's bond. See full Corrective Action Plan on district letterhead.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser II $467,956
84.425 Education Stabilization Fund Esser III $274,277
84.027 Special Education_grants to States $225,846
10.555 National School Lunch Program $179,941
32.009 Emergency Connectivity Fund Program $155,610
84.010 Title I Grants to Local Educational Agencies $109,420
84.027 Special Education_grants to States Arp Idea Ft $38,465
10.555 Non-Cash Food Commodity Program $29,049
93.778 Medical Assistance Program $22,424
84.424 Student Support and Academic Enrichment Program $22,301
84.367 Improving Teacher Quality State Grants $21,716
10.555 School Breakfast Program $16,894
10.555 Arp Child Nutrition Supply Chain Assistance $15,081
84.173 Special Education_preschool Grants $6,968
84.425 Education Stabilization Fund Arp McKinney Vento Homeless $5,535
10.555 Fresh Fruits and Vegetables Program $4,260
10.553 School Breakfast Program $4,063
84.173 Special Education_preschool Grants Arp Idea Ps $3,803
10.649 Pandemic Ebt Administrative Costs $628