School District No. 55-0145, Waverly, Nebraska, respectfully submits the following corrective action plan for the year ended August 31, 2022. Name and address of independent public accounting firm: Romans, Wiemer & Associates, Certified Public Accountants, P.C., 1910 N Lincoln Ave, York, NE 68467 Audit Period: September 1, 2021 through August 31, 2022 The findings from the October 31, 2022 schedule of findings and questioned cost are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS ? FINANCIAL STATEMENT AUDIT MATERIAL WEAKNESS 2022-001 Internal Control Structure Design Recommendation: While considering the cost of any benefits derived, activities should be segregated and handled by different employees. Action Taken: The cost of implementing a complete set of controls far outweighs the benefits derived by such. It is not financially feasible to have a complete set of controls. 2022-002 Deposit Risk Recommendation: Obtain adequate pledged securities from the financial institution. Action Taken: District personnel will contact the bank about getting additional coverage. 2022-003 Disbursements in Excess of Budget Recommendation: Either not approve disbursements over budgeted amounts or amend the budget if extra disbursements are needed. Action Taken: The District will monitor funds closer and either not approve disbursements over budgeted amounts or amend the budget if needed in the future. FINDINGS ? FEDERAL AWARD PROGRAM AUDIT Nebraska Department of Education 2022-004 Internal Control Structure Design Recommendation: While considering the cost of any benefits derived, activities should be segregated and handled by different employees. Action Taken: The cost of implementing a complete set of controls far outweighs the benefits derived by such. It is not financially feasible to have a complete set of controls. If the Nebraska Department of Education has questions regarding this plan, please call Mikal Shalikow at (402) 786-2321.