FAC Explorer

Finding 384527 (2023-001)

- Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-03-26
Audit: 297625
Organization: Galena Unit School District #120 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District needs to improve its financial statement preparation to avoid material audit adjustments.
  • Trend: Ongoing issues with revenue and expense reporting indicate a pattern that must be addressed.
  • List: Follow up by reviewing compliance with the Illinois School Code and IPAM to ensure accurate financial reporting.

Finding Text

The District is responsible for the preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2023 financial audit. Adjustments were needed to properly report certain items of revenue and expense in accordance with provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

The district's response to material adjustments with journal entries into correct account numbers is twofold: 1. Professional development for the superintendent, bookkeeper, and district administrative assistant related specifically to the function and object codes for the state. 2. Ensuring that the software system has the account numbers correctly stated as they are in the IPAM manual, and those account numbers correctly feed to the state budget form. See full Corrective Action Plan on district letterhead.

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser III $606,995
84.027 Special Education_grants to States $339,977
10.555 National School Lunch Program $250,257
84.010 Title I Grants to Local Educational Agencies $115,404
10.555 Non-Cash Food Commodity Program $39,776
84.027 Special Education_grants to States Arp Idea Ft $39,686
84.425 Education Stabilization Fund Esser II $31,791
93.778 Medical Assistance Program $25,773
84.367 Improving Teacher Quality State Grants $21,381
10.555 Arp Child Nutrition - Supply Chain Assistance $14,476
84.424 Student Support and Academic Enrichment Program $13,562
10.555 Fresh Fruits and Vegetables Program $8,717
10.555 School Breakfast Program $7,184
84.425 Education Stabilization Fund Arp McKinney - Vento Homeless $6,672
84.173 Special Education_preschool Grants $5,882
84.425 Education Stabilization Fund Esser I $2,170
84.173 Special Education_preschool Grants Arp Idea Ps $2,000
10.553 School Breakfast Program $1,159
10.649 Pandemic Ebt Administrative Costs $628