FAC Explorer

Finding 502525 (2023-002)

Material Weakness Repeat Finding
Requirement
ABEILN
Questioned Costs
-
Year
2023
Accepted
2024-10-11
Audit: 324505
Organization: Iowa Falls Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: One employee has too much control over critical financial areas, increasing the risk of errors or fraud.
  • Impacted Requirements: This violates the principle of segregation of duties, which is essential for internal controls.
  • Recommended Follow-up: Review and reassign responsibilities to ensure no single employee manages 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, investments, receipts, manual journal entries and computer systems. See finding 2023 001

Corrective Action Plan

We will continue to review our control procedures to ensure we achieve the maximum internal control possible under the circumstances.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 502526 2023-002
    Material Weakness Repeat
  • 502527 2023-002
    Material Weakness Repeat
  • 1078967 2023-002
    Material Weakness Repeat
  • 1078968 2023-002
    Material Weakness Repeat
  • 1078969 2023-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $426,941
84.425 Education Stabilization Fund $376,898
84.010 Title I Grants to Local Educational Agencies $184,616
10.553 School Breakfast Program $72,118
84.027 Special Education_grants to States $47,123
84.367 Improving Teacher Quality State Grants $25,909
93.575 Child Care and Development Block Grant $21,854
84.048 Career and Technical Education -- Basic Grants to States $16,903
84.424 Student Support and Academic Enrichment Program $11,317
10.559 Summer Food Service Program for Children $5,326