FAC Explorer

Finding 409751 (2022-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-01-08
Audit: 311940
Organization: Isd #2907 Round Lake Brewster (MN)
Auditor: Meulebroeck Taubert & CO Pllp

AI Summary

  • Answer: Internal accounting controls are essential for ensuring accurate financial reporting and preventing fraud.
  • Trend: Many organizations are facing challenges in maintaining effective controls due to increased complexity in operations.
  • List: Key areas to focus on include regular audits, employee training, and updating control procedures.

Finding Text

INTERNAL ACCOUNTING CONTROLS

Corrective Action Plan

Because it is economically infeasible to hire additional staff to adequately provide for the proper segregation of duties, the district implemented an internal control policy, that addresses the areas of segregation the district is lacking, including bank reconciliation, receipts, disbursements, payroll, journal entries, and budget. The policy utilizes staff and board members to ensure that segregation of duties occurs to the extent possible.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 409748 2022-002
    Material Weakness Repeat
  • 409749 2022-003
    Material Weakness Repeat
  • 409750 2022-004
    Material Weakness Repeat
  • 409752 2022-001
    Material Weakness Repeat
  • 409753 2022-002
    Material Weakness Repeat
  • 409754 2022-003
    Material Weakness Repeat
  • 409755 2022-004
    Material Weakness Repeat
  • 409756 2022-001
    Material Weakness Repeat
  • 409757 2022-002
    Material Weakness Repeat
  • 409758 2022-003
    Material Weakness Repeat
  • 409759 2022-004
    Material Weakness Repeat
  • 409760 2022-001
    Material Weakness Repeat
  • 409761 2022-002
    Material Weakness Repeat
  • 409762 2022-003
    Material Weakness Repeat
  • 409763 2022-004
    Material Weakness Repeat
  • 409764 2022-001
    Material Weakness Repeat
  • 409765 2022-002
    Material Weakness Repeat
  • 409766 2022-003
    Material Weakness Repeat
  • 409767 2022-004
    Material Weakness Repeat
  • 409768 2022-001
    Material Weakness Repeat
  • 409769 2022-002
    Material Weakness Repeat
  • 409770 2022-003
    Material Weakness Repeat
  • 409771 2022-004
    Material Weakness Repeat
  • 409772 2022-001
    Material Weakness Repeat
  • 409773 2022-002
    Material Weakness Repeat
  • 409774 2022-003
    Material Weakness Repeat
  • 409775 2022-004
    Material Weakness Repeat
  • 409776 2022-001
    Material Weakness Repeat
  • 409777 2022-002
    Material Weakness Repeat
  • 409778 2022-003
    Material Weakness Repeat
  • 409779 2022-004
    Material Weakness Repeat
  • 409780 2022-001
    Material Weakness
  • 409781 2022-002
    Material Weakness
  • 409782 2022-003
    Material Weakness
  • 409783 2022-004
    Material Weakness
  • 409784 2022-001
    Material Weakness Repeat
  • 409785 2022-002
    Material Weakness Repeat
  • 409786 2022-004
    Material Weakness Repeat
  • 409787 2022-003
    Material Weakness Repeat
  • 409788 2022-001
    Material Weakness Repeat
  • 986190 2022-002
    Material Weakness Repeat
  • 986191 2022-003
    Material Weakness Repeat
  • 986192 2022-004
    Material Weakness Repeat
  • 986193 2022-001
    Material Weakness Repeat
  • 986194 2022-001
    Material Weakness Repeat
  • 986195 2022-002
    Material Weakness Repeat
  • 986196 2022-003
    Material Weakness Repeat
  • 986197 2022-004
    Material Weakness Repeat
  • 986198 2022-001
    Material Weakness Repeat
  • 986199 2022-002
    Material Weakness Repeat
  • 986200 2022-003
    Material Weakness Repeat
  • 986201 2022-004
    Material Weakness Repeat
  • 986202 2022-001
    Material Weakness Repeat
  • 986203 2022-002
    Material Weakness Repeat
  • 986204 2022-003
    Material Weakness Repeat
  • 986205 2022-004
    Material Weakness Repeat
  • 986206 2022-001
    Material Weakness Repeat
  • 986207 2022-002
    Material Weakness Repeat
  • 986208 2022-003
    Material Weakness Repeat
  • 986209 2022-004
    Material Weakness Repeat
  • 986210 2022-001
    Material Weakness Repeat
  • 986211 2022-002
    Material Weakness Repeat
  • 986212 2022-003
    Material Weakness Repeat
  • 986213 2022-004
    Material Weakness Repeat
  • 986214 2022-001
    Material Weakness Repeat
  • 986215 2022-002
    Material Weakness Repeat
  • 986216 2022-003
    Material Weakness Repeat
  • 986217 2022-004
    Material Weakness Repeat
  • 986218 2022-001
    Material Weakness Repeat
  • 986219 2022-002
    Material Weakness Repeat
  • 986220 2022-003
    Material Weakness Repeat
  • 986221 2022-004
    Material Weakness Repeat
  • 986222 2022-001
    Material Weakness
  • 986223 2022-002
    Material Weakness
  • 986224 2022-003
    Material Weakness
  • 986225 2022-004
    Material Weakness
  • 986226 2022-001
    Material Weakness Repeat
  • 986227 2022-002
    Material Weakness Repeat
  • 986228 2022-004
    Material Weakness Repeat
  • 986229 2022-003
    Material Weakness Repeat
  • 986230 2022-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $488,222
10.555 National School Lunch Program $294,309
10.553 School Breakfast Program $97,632
84.027 Special Education_grants to States $65,022
84.010 Title I Grants to Local Educational Agencies $60,210
93.323 Epidemiology and Laboratory Capacity for Infectious Diseases (elc) $40,000
84.358 Rural Education $31,036
84.367 Improving Teacher Quality State Grants $10,990
84.424 Student Support and Academic Enrichment Program $10,000