FAC Explorer

Finding 479715 (2023-002)

Significant Deficiency
Requirement
ABCHI
Questioned Costs
-
Year
2023
Accepted
2024-07-30
Audit: 316282
Organization: City of Kearney, Nebraska (NE)
Auditor: Kso Cpa's & Advisors PC

AI Summary

  • Answer: There is a significant deficiency in internal controls due to inadequate segregation of duties.
  • Trend: This issue can lead to increased risk of errors or fraud in financial reporting.
  • List: Review and adjust roles to ensure proper segregation of duties and mitigate risks.

Finding Text

Significant Deficiency in Internal Control over Financial Reporting - Inadequate Segregation of Duties.

Corrective Action Plan

The City council closely monitors all accounting functions and is aware of the limited number of personnel in the Finance Office and the distribution of duties.

Categories

Internal Control / Segregation of Duties Reporting Significant Deficiency

Other Findings in this Audit

  • 479716 2023-003
    Material Weakness
  • 479717 2023-002
    Significant Deficiency
  • 479718 2023-003
    Material Weakness
  • 479719 2023-002
    Significant Deficiency Repeat
  • 1056157 2023-002
    Significant Deficiency
  • 1056158 2023-003
    Material Weakness
  • 1056159 2023-002
    Significant Deficiency
  • 1056160 2023-003
    Material Weakness
  • 1056161 2023-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
20.106 Airport Improvement Program $7.05M
66.458 Clean Water State Revolving Fund $5.88M
66.468 Drinking Water State Revolving Fund $2.35M
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.16M
97.090 Law Enforcement Officer Reimbursement Agreement Program $22,780
20.600 State and Community Highway Safety $13,717
16.607 Bulletproof Vest Partnership Program $11,690
11.307 Economic Adjustment Assistance Program $7,518
21.016 Equitable Sharing $3,945
20.616 National Priority Safety Programs $606