Finding 396166 (2023-003)

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Requirement
P
Questioned Costs
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Year
2023
Accepted
2024-05-08

AI Summary

  • Issue: Custodians did not meet bonding requirements as per the Illinois School Code.
  • Trend: The treasurer's bond was insufficient for at least one month in fiscal year 2023.
  • Follow-up: Ensure all custodians are bonded for at least 25% of total funds in custody moving forward.

Finding Text

One or more custodians of funds failed to comply with the bonding requirements of the Illinois School Code. The treasurer's bond in force was not sufficeint to meet the bonding requirement for at least one month during fiscal year 2023. The Illinois School Code requires the activity fund custodian to be bonded for at least 25% of the total funds in his or her custody.

Corrective Action Plan

Will contact Unland Insurance Company to bond our district bookkeeper who handles the student activity fund account. See full Corrective Action Plan on district letterhead.

Categories

No categories assigned yet.

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