FAC Explorer

Finding 45996 (2022-002)

Material Weakness Repeat Finding
Requirement
ABFL
Questioned Costs
-
Year
2022
Accepted
2023-08-20
Audit: 41069
Organization: Missouri Valley Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: There is insufficient segregation of duties among employees, allowing too few individuals to control critical financial areas.
  • Impacted Requirements: This affects compliance with internal control standards for major federal programs, including cash management and financial reporting.
  • Recommended Follow-Up: Review and adjust employee roles to ensure proper segregation of duties in all key financial areas.

Finding Text

One important aspect of the internal control structure is the segregation of duties among employees to prevent an individual employee from handling duties which are incompatible. We noted a limited number of individuals have control over portions of one or more of the following areas for the District relating to major federal programs; cash, disbursements, inventories, payroll, receipts, financial reporting, school nutrition program and journal entries. See 2022-001

Corrective Action Plan

Personnel will review policies and update duties to increase segregation of duties.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 45997 2022-002
    Material Weakness Repeat
  • 622438 2022-002
    Material Weakness Repeat
  • 622439 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $706,217
10.555 National School Lunch Program $348,266
10.553 School Breakfast Program $185,838
84.010 Title I Grants to Local Educational Agencies $155,682
10.559 Summer Food Service Program for Children $55,391
84.367 Improving Teacher Quality State Grants $23,522
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $7,500
84.027 Special Education_grants to States $5,512
16.839 Stop School Violence $4,400
10.649 Pandemic Ebt Administrative Costs $614