FAC Explorer

Finding 42999 (2022-004)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-04-24
Audit: 39784
Organization: Gmg Community School District (IA)
Auditor: Kay L Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial duties, which is a significant control weakness.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommended actions include implementing proper segregation of duties and regular audits to ensure compliance.

Finding Text

The District did not properly segregate custody, record-keeping and reconciling functions for revenues and expenditures, including those related 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

  • 43000 2022-005
    Material Weakness
  • 619441 2022-004
    Material Weakness
  • 619442 2022-005
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $483,791
10.555 National School Lunch Program $306,035
10.553 School Breakfast Program $101,075
84.010 Title I Grants to Local Educational Agencies $58,633
84.358 Rural Education $46,116
84.048 Career and Technical Education -- Basic Grants to States $15,527
84.027 Special Education_grants to States $13,911
84.424 Student Support and Academic Enrichment Program $10,000
84.367 Improving Teacher Quality State Grants $9,620
10.559 Summer Food Service Program for Children $3,760