Finding 484611 (2023-002)

Material Weakness Repeat Finding

Requirement

ABFL

Questioned Costs

-

Year

2023

Accepted

2024-08-20

Audit: 317501

Organization: Edgewood-Colesburg Community School District (IA)

Auditor: Nolte Cornman & Johnson PC

AI Summary

Core Issue: One employee has too much control over multiple financial areas, increasing the risk of errors or fraud.
Impacted Requirements: This violates the principle of segregation of duties, which is essential for effective internal controls.
Recommended Follow-Up: Review and reassign responsibilities to ensure no single employee handles incompatible duties.

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 one individual has control over portions of one or more of the following areas for the District relating to major federal programs; cash, receipts, disbursements, capital assets, wire transfers, journal entries, payroll and school lunch program. See finding 2023-001.

Corrective Action Plan

The District will continue to look for ways to improve segregation of duties.

Programs in Audit

ALN	Program Name	Expenditures
84.425	Education Stabilization Fund	$804,437
10.555	National School Lunch Program	$193,340
84.010	Title I Grants to Local Educational Agencies	$110,361
32.009	Emergency Connectivity Fund Program	$38,535
84.358	Rural Education	$37,665
84.367	Improving Teacher Quality State Grants	$22,973
84.027	Special Education_grants to States	$19,748
10.553	School Breakfast Program	$18,749
84.424	Student Support and Academic Enrichment Program	$10,000
84.048	Career and Technical Education -- Basic Grants to States	$8,795
10.185	Local Food for Schools Cooperative Agreement Program	$3,986

Finding 484611 (2023-002)

AI Summary

Finding Text

Corrective Action Plan

Categories

Other Findings in this Audit

Programs in Audit