FAC Explorer

Finding 47306 (2022-003)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-04-04
Audit: 42004
Organization: North Cedar Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial roles, which can lead to errors or fraud.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommend implementing clear role divisions for custody, record-keeping, and reconciliation to enhance financial controls.

Finding Text

The District did not properly segregated custody, record-keeping and reconciling functions for revenues and expenditures, including those related to federal programs.

Corrective Action Plan

We have reviewed procedure's and plan to make the necessary changes to improve internal control.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 47307 2022-003
    Material Weakness
  • 47308 2022-003
    Material Weakness
  • 623748 2022-003
    Material Weakness
  • 623749 2022-003
    Material Weakness
  • 623750 2022-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $440,963
84.425 Education Stabilization Fund $356,491
10.553 School Breakfast Program $146,198
84.010 Title I Grants to Local Educational Agencies $130,559
84.027 Special Education_grants to States $33,552
10.558 Child and Adult Care Food Program $27,289
84.367 Improving Teacher Quality State Grants $21,858
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $4,548