FAC Explorer

Finding 396169 (2023-006)

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

AI Summary

  • Answer: An unauthorized interfund loan occurred due to a cash deficit in the Transportation Fund.
  • Trend: This indicates a recurring issue with cash management and approval processes for interfund loans.
  • List: Ensure all interfund loans are approved by the Board of Education and monitor cash positions regularly to prevent future unauthorized loans.

Finding Text

Interfund loans must be properly approved by the Board of Education. A deficit cash position in the Transportation Fund resulted in an unauthorized interfund loan at year end in the District's commingled bank account.

Corrective Action Plan

This type of fund transfer will not accur again. The superintendent and bookkeeper will meet monthly to ensure the appropriate funds are available in each account. If there is a deficit and need for interfund transfer, the superintendent will make the fund transfer a board agenda item to approve before the transfer occurs. See full Corrective Action Plan on district letterhead.

Categories

Matching / Level of Effort / Earmarking

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