FAC Explorer

Finding 41773 (2022-009)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-16
Audit: 39445
Organization: West Central Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Issue: The District failed to complete monthly bank reconciliations on time, affecting financial oversight.
  • Trend: This delay includes accounts tied to federal programs, which could lead to compliance risks.
  • Recommendation: Implement a schedule to ensure timely bank reconciliations moving forward.

Finding Text

The District did not prepare monthly bank reconciliations in a timely manner, including accounts relating to federal programs.

Corrective Action Plan

We have reviewed procedures and plan to make the necessary changes to improve internal control.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 41772 2022-008
    Material Weakness Repeat
  • 41774 2022-010
    Significant Deficiency
  • 41775 2022-011
    Significant Deficiency
  • 618214 2022-008
    Material Weakness Repeat
  • 618215 2022-009
    Material Weakness
  • 618216 2022-010
    Significant Deficiency
  • 618217 2022-011
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $419,867
10.555 National School Lunch Program $219,787
84.010 Title I Grants to Local Educational Agencies $58,271
10.553 School Breakfast Program $43,620
84.358 Rural Education $23,046
84.027 Special Education_grants to States $12,429
84.367 Improving Teacher Quality State Grants $11,506
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $5,733