Finding 42204 (2022-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-03-07
Audit: 38592
Organization: School District of Shiocton (WI)

AI Summary

  • Core Issue: The District lacks adequate segregation of duties in bookkeeping and accounting, with few personnel handling most functions.
  • Impacted Requirements: Internal controls require a clear separation of duties to prevent errors and fraud.
  • Recommended Follow-Up: Evaluate the cost/benefit of hiring more staff for segregation and ensure the Board of Education oversees financial statements and budgets.

Finding Text

2021-001 Lack of Adequate Segregation of Duties Condition: The District has a limited number of personnel that are responsible for and perform substantially all of the bookkeeping and accounting functions. Criteria: We are required to report on whether the District has appropriate segregation of duties relating to all aspects of its bookkeeping and accounting procedures. Good internal control requires a complete separation of duties with respect to the handling and recording of transactions. Cause: The additional costs with hiring additional support staff to achieve complete segregation of duties would outweigh the derived benefits. Effect: Proper segregation of duties in the system of controls is not accomplished. Identification of a Repeat Finding: This is a repeat finding from previous audits, see 2020-001. Recommendation: The District should continue to evaluate the cost/benefit of hiring additional support staff to achieve complete segregation of duties. The Board of Education should remain involved with review of and oversight regarding the District?s financial statements and budgets.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 42202 2022-001
    Significant Deficiency Repeat
  • 42203 2022-001
    Significant Deficiency Repeat
  • 42205 2022-004
    Significant Deficiency Repeat
  • 42206 2022-004
    Significant Deficiency Repeat
  • 42207 2022-004
    Significant Deficiency Repeat
  • 618644 2022-001
    Significant Deficiency Repeat
  • 618645 2022-001
    Significant Deficiency Repeat
  • 618646 2022-001
    Significant Deficiency Repeat
  • 618647 2022-004
    Significant Deficiency Repeat
  • 618648 2022-004
    Significant Deficiency Repeat
  • 618649 2022-004
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $402,452
84.027 Special Education_grants to States $188,936
84.425 Education Stabilization Fund $116,721
10.553 School Breakfast Program $83,622
93.778 Medical Assistance Program $66,831
84.010 Title I Grants to Local Educational Agencies $60,808
84.367 Improving Teacher Quality State Grants $15,498
84.424 Student Support and Academic Enrichment Program $10,162
84.173 Special Education_preschool Grants $4,640
16.839 Stop School Violence $3,980
84.048 Career and Technical Education -- Basic Grants to States $2,399