Finding 485896 (2023-002)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-09-06
Audit: 318639
Organization: City of Marion (SC)

AI Summary

  • Answer: The City lacks complete segregation of duties due to limited staff.
  • Trend: This situation increases the risk of errors or fraud.
  • List: Recommend reviewing processes to implement checks and balances, even with a small team.

Finding Text

Due to a small staff size, the City does not have complete segregation of duties.

Corrective Action Plan

The City relies heavily on supervisory oversight. The City has in place many internal controls to help reduce risks of financial reporting objectives and provide safeguards for the City's assets. Some of the controls are a supervisor has to review and sign off on all bank statements and reconciliations, and any journal entries. All accounts payable invoices and reports are reviewed by at least two people.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 485895 2023-001
    Significant Deficiency Repeat
  • 485897 2023-001
    Significant Deficiency Repeat
  • 485898 2023-002
    Significant Deficiency Repeat
  • 485899 2023-001
    Significant Deficiency Repeat
  • 485900 2023-002
    Significant Deficiency Repeat
  • 1062337 2023-001
    Significant Deficiency Repeat
  • 1062338 2023-002
    Significant Deficiency Repeat
  • 1062339 2023-001
    Significant Deficiency Repeat
  • 1062340 2023-002
    Significant Deficiency Repeat
  • 1062341 2023-001
    Significant Deficiency Repeat
  • 1062342 2023-002
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
21.027 Coronavirus State and Local Fiscal Recovery Funds $539,183
14.228 Community Development Block Grants/state's Program and Non-Entitlement Grants in Hawaii $437,859
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $98,929