FAC Explorer

Finding 396165 (2023-002)

Material Weakness
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-05-08
Audit: 305794
Organization: Pleasant Valley School District No. 62 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District needs to improve its financial statement preparation to avoid material audit adjustments.
  • Trend: This issue has been identified during the fiscal year 2023 audit, indicating ongoing challenges with compliance.
  • List: Follow up on training for staff on the Illinois School Code and IPAM to ensure accurate reporting of revenue and expenses.

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 Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

The District will review prior year audit entries to ensure all necessary entries have been posted in a timely manner. 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 $985,093
84.010 Title I Grants to Local Educational Agencies $398,482
10.555 National School Lunch Program $231,213
10.555 School Breakfast Program $119,408
93.778 Medical Assistance Program $88,436
84.424 Student Support and Academic Enrichment Program $64,790
10.582 Fresh Fruit and Vegetable Program $38,699
84.010 Title I School Improvement & Accountability $32,770
84.367 Improving Teacher Quality State Grants $30,470
10.553 School Breakfast Program $30,130
84.425 Education Stabilization Fund D2 $27,628
84.027 Special Education_grants to States $24,478
10.555 Arp Child Nutrition - Nutrition Supply Chain Assistance $18,961
10.555 Non-Cash Food Commodity Program $14,188
10.555 Fresh Fruits and Vegetables Program $13,181
84.425 Education Stabilization Fund Arp McKinney Vento Homeless $8,669
84.425 Education Stabilization Fund D3 $7,467
84.425 Education Stabilization Fund Esser I $6,887
84.425 Education Stabilization Fund Esser II $5,905
84.173 Special Education_preschool Grants $2,177
10.649 Pandemic Ebt Administrative Costs $628