FAC Explorer

Finding 41986 (2022-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-03-02
Audit: 48024
Organization: Rockton School District No. 140 (IL)
Auditor: Benning Group LLC

AI Summary

  • Core Issue: The District Treasurer and bookkeeper roles are held by the same person, which compromises internal controls.
  • Impacted Requirements: Segregation of duties is essential for effective oversight and financial integrity.
  • Recommended Follow-Up: Consider separating these roles to enhance internal controls and accountability.

Finding Text

The function of the District Treasurer is to review the accounting functions and provide a measure of oversight over daily procedures. The District bookkeeper also serves as the District treasurer. Segregation of duties essential for proper internal control over financial transactions is compromised when the same person functions in the capacity of both the person responsible for recording transactions and the person responsible for oversight of the financial procedures.

Corrective Action Plan

The District will continue procedures to provide oversight to the bookkeeper and treasurer positions, including oversight of bank reconciliations. See full Corrective Action Plan on the district letterhead.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.027 Special Education_grants to States $276,627
84.010 Title I Grants to Local Educational Agencies $236,422
84.425 Education Stabilization Fund Esser III $169,041
84.425 Education Stabilization Fund Esser De $96,094
84.027 Special Education_grants to States Arp Idea Ft $70,762
10.553 School Breakfast Program $40,010
84.367 Improving Teacher Quality State Grants Title II $38,963
10.555 Dod Fresh Fruits and Vegetables Program $28,487
10.555 Commodities Program $25,213
93.778 Medical Assistance Program $22,316
10.559 Summer Food Service Program for Children $20,093
84.173 Special Education_preschool Grants $11,414
84.424 Student Support and Academic Enrichment Program Title IV $10,460
84.173 Special Education_preschool Grants Arp Idea Pre-K $7,093
10.556 Special Milk Program for Children $1,007
10.649 Pandemic Ebt Administrative Costs $614
10.555 National School Lunch Program $120