FAC Explorer

Finding 38674 (2022-001)

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Requirement
P
Questioned Costs
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Year
2022
Accepted
2022-10-23
Audit: 37831
Organization: Kinnikinnick Community Consolidated School District #131 (WI)
Auditor: Benning Group LLC

AI Summary

  • Core Issue: The District failed to prepare accurate financial statements, leading to material audit adjustments.
  • Impacted Requirements: Compliance with the Illinois School Code and the Illinois Program Accounting Manual (IPAM) was not met.
  • Recommended Follow-Up: Implement a review process to ensure financial statements align with legal requirements before submission.

Finding Text

The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2022 financial audit. Several adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

The CSBO will work with the Bookkeeper to ensure that all funds are accounted for in the correct accounts and promptly enter all identified auditor adjustments. 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 II $723,422
84.027 Special Education_grants to States $429,227
10.555 National School Lunch Program $407,802
84.425 Education Stabilization Fund Esser III $388,781
84.010 Title I Grants to Local Educational Agencies $380,956
10.553 School Breakfast Program $76,519
10.559 Summer Food Service Program for Children $67,572
10.555 Dod Fresh Fruits and Vegetables $64,284
84.367 Improving Teacher Quality State Grants $42,611
84.425 Education Stabilization Fund Arp Nutrition $35,723
10.555 Commodities Program $32,335
93.778 Medical Assistance Program $26,383
84.424 Student Support and Academic Enrichment Program $12,854
84.173 Special Education_preschool Grants $12,414
84.425 Education Stabilization Fund Arp Homeless $2,642
10.556 Special Milk Program for Children $1,264