FAC Explorer

Finding 391136 (2023-002)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-04-01
Audit: 301743
Organization: Meridian Community Unit School District #223 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District must ensure accurate financial statements, as material audit adjustments were found during the 2023 audit.
  • Trend: Ongoing issues with reporting revenue and expenses correctly indicate a need for improved financial practices.
  • List: Follow up by reviewing financial reporting processes and training staff on compliance with the Illinois School Code and IPAM.

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. 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 superintendent and bookkeeper will meet monthly to analyze revenue and expenditures and to ensure appropriate coding takes place. All necessary adjustment s will be made in real time and any issues which are not clear will be researched and discussed with other leaders including the treasurer to ensure all accounting principles and guidelines are followed. See full Corrective Action Plan on the district letterhead.

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund E3 $1.01M
16.710 Public Safety Partnership and Community Policing Grants $500,000
84.425 Education Stabilization Fund D3 $396,711
10.555 National School Lunch Program $324,442
84.027 Special Education_grants to States $304,463
84.010 Title I Grants to Local Educational Agencies $207,274
84.027 Special Education_grants to States Arp Idea Ft $69,191
10.555 National School Lunch Arp Child Nutrition Supply Chain Funding $55,917
10.555 Non-Cash Food Commodity $51,889
10.555 School Breakfast Program $43,814
84.425 Education Stabilization Fund Fg $41,394
10.555 Fresh Fruits and Vegetables $33,441
84.424 Student Support and Academic Enrichment Program $31,750
10.579 Nslp Equipment Assistance Grant $26,614
93.778 Medical Assistance Program $22,878
84.367 Improving Teacher Quality State Grants $20,877
10.553 School Breakfast Program $18,215
84.173 Special Education_preschool Grants $11,075
84.425 Education Stabilization Fund Arp Hl $6,703
84.173 Special Education_preschool Grants Arp Idea Ps $6,699
10.649 Pandemic Ebt Administrative Costs $628