FAC Explorer

Finding 45541 (2022-002)

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Requirement
P
Questioned Costs
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Year
2022
Accepted
2023-04-12
Audit: 44156
Organization: Chadwick-Milledgeville C.u.s.d. #399 (IL)
Auditor: Benning Group LLC

AI Summary

  • Core Issue: Some fund custodians did not meet bonding requirements set by the Illinois School Code.
  • Impacted Requirement: The treasurer's bond was below the required 25% of total funds for one month in fiscal year 2022.
  • Recommended Follow-Up: Ensure the treasurer's bond is adjusted to meet the legal requirements 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 Codes 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 increased the treasurer's bond for fiscal year 2023. See full Corrective Action Plan on the District's letterhead.

Categories

No categories assigned yet.

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser III $453,988
84.027 Special Education_grants to States $123,299
10.555 National School Lunch Program 22 $109,933
84.425 Education Stabilization Fund Esser II $92,819
84.010 Title I Grants to Local Educational Agencies $76,717
84.358 Rural Education $35,691
10.553 School Breakfast Program 22 $34,218
10.555 National School Lunch Program 21 $30,732
84.027 Arp Idea Id $19,996
84.424 Student Support and Academic Enrichment Program $15,585
84.367 Improving Teacher Quality State Grants $13,231
10.560 State Administrative Expenses for Child Nutrition $11,628
10.555 Non Cash Food Commodity $11,208
10.555 Crrsa Child Nutrition Emergency Funding $9,094
10.555 Fresh Fruits & Vegetables $8,006
93.778 Medical Assistance Program $7,545
10.553 School Breakfast Program 21 $6,050
84.173 Special Education_preschool Grants $4,542
10.558 Child and Adult Care Food Program 22 $2,750
84.173 Arp Idea Ps $1,976
10.649 Pandemic Ebt Administrative Costs $614
10.558 Child and Adult Care Food Program 21 $578
10.558 Emergency Cost Funding for Cacfp Centers & Homes $369