FAC Explorer

Finding 41987 (2022-002)

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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

  • Issue: Some fund custodians did not meet bonding requirements as per the Illinois School Code.
  • Trend: The treasurer's bond was insufficient for one month during fiscal year 2022.
  • Follow-up: Ensure the treasurer's bond meets the requirement of 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 sufficient to meet the bonding requirement for one month during fiscal year 2022. Illinois School Code requires the district treasurer to be bonded for at least 25% of the total funds in his/her custody.

Corrective Action Plan

The District has already taken steps to increase the amount of the treasurer's bond. This situation occurred due to the influx of federal deposits for the COVID relief grant reimbursements during FY22. See full Corrective Action Plan on the district letterhead.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 41986 2022-001
    Significant Deficiency Repeat
  • 41988 2022-003
    -
  • 618428 2022-001
    Significant Deficiency Repeat
  • 618429 2022-002
    -
  • 618430 2022-003
    -

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