FAC Explorer

Finding 43046 (2022-003)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-19
Audit: 45728
Organization: Wapsie Valley Community School District (IA)
Auditor: Kay L Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial roles, which can lead to errors or fraud.
  • Trend: This issue is consistent with previous audits, indicating ongoing weaknesses in financial controls.
  • List: Immediate steps should include implementing proper segregation of duties and conducting regular reviews of financial processes.

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

  • 43047 2022-004
    Material Weakness
  • 43048 2022-005
    Material Weakness
  • 43049 2022-006
    Material Weakness
  • 43050 2022-003
    Material Weakness
  • 43051 2022-004
    Material Weakness
  • 43052 2022-005
    Material Weakness
  • 43053 2022-006
    Material Weakness
  • 43054 2022-003
    Material Weakness
  • 43055 2022-004
    Material Weakness
  • 43056 2022-005
    Material Weakness
  • 43057 2022-006
    Material Weakness
  • 43058 2022-003
    Material Weakness
  • 43059 2022-005
    Material Weakness
  • 43060 2022-006
    Material Weakness
  • 43061 2022-004
    Material Weakness
  • 619488 2022-003
    Material Weakness
  • 619489 2022-004
    Material Weakness
  • 619490 2022-005
    Material Weakness
  • 619491 2022-006
    Material Weakness
  • 619492 2022-003
    Material Weakness
  • 619493 2022-004
    Material Weakness
  • 619494 2022-005
    Material Weakness
  • 619495 2022-006
    Material Weakness
  • 619496 2022-003
    Material Weakness
  • 619497 2022-004
    Material Weakness
  • 619498 2022-005
    Material Weakness
  • 619499 2022-006
    Material Weakness
  • 619500 2022-003
    Material Weakness
  • 619501 2022-005
    Material Weakness
  • 619502 2022-006
    Material Weakness
  • 619503 2022-004
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $357,363
84.425 Education Stabilization Fund $268,983
10.553 School Breakfast Program $83,316
84.010 Title I Grants to Local Educational Agencies $69,053
84.027 Special Education_grants to States $29,675
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $24,032
84.367 Improving Teacher Quality State Grants $23,969
10.559 Summer Food Service Program for Children $13,391
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $5,789
10.649 Pandemic Ebt Administrative Costs $614