FAC Explorer

Finding 390843 (2023-002)

- Repeat Finding
Requirement
L
Questioned Costs
-
Year
2023
Accepted
2024-04-01
Audit: 301558
Organization: Rockton School District No. 140 (IL)
Auditor: Benning Group LLC

AI Summary

  • Core Issue: The District did not 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: Review and improve financial reporting processes to ensure accuracy and compliance in future audits.

Finding Text

The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2023 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 District will seek guidance for recording transactions under new accounting standards as they arise in the future.

Categories

Special Tests & Provisions

Other Findings in this Audit

  • 390842 2023-001
    Significant Deficiency Repeat
  • 390844 2023-003
    -
  • 967284 2023-001
    Significant Deficiency Repeat
  • 967285 2023-002
    - Repeat
  • 967286 2023-003
    -

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser III $475,443
10.555 National School Lunch $348,315
84.027 Special Education Grants to States $335,191
84.010 Title I Grants to Local Educational Agencies $175,435
10.555 Crrsa Child Nutrition Emergency Funding $84,627
84.425 Education Stabilization Fund D3 $53,200
10.555 Dod Fresh Fruits and Vegetables Program $38,848
84.367 Improving Teacher Quality State Grants Title II $37,579
84.334 Gaining Early Awareness and Readiness for Undergraduate Programs $28,972
93.778 Medical Assistance Program $27,170
10.553 School Breakfast Program $25,184
10.555 Commodities Program $22,523
84.424 Student Support and Academic Enrichment Program Title IV $16,480
84.173 Special Education Preschool Grants $11,894
84.425 Education Stabilization Fund Arp Hl $4,800
10.556 Special Milk Program for Children $1,563
10.649 Pandemic Ebt Administrative Costs $628