FAC Explorer

Finding 502984 (2022-003)

Material Weakness
Requirement
C
Questioned Costs
-
Year
2022
Accepted
2024-10-16
Audit: 324931
Organization: Elverado Community Unit School District (CO)
Auditor: Atlas CPAS & Advisors PLLC

AI Summary

  • Answer: The District must have a solid internal control system to manage money effectively.
  • Trend: Weak controls can lead to mistakes or fraud, which can harm the District's finances.
  • List: Ensure controls are in place for receipts and disbursements to protect against errors and theft.

Finding Text

The District is responsible for establishing and maintaining an internal control system over receipts and disbursements to prevent unintentional or intentional errors, misappropriations of assets, and fraud.

Corrective Action Plan

The District will segregate duties to the best of its ability and ensure proper oversight by management.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 502982 2022-001
    Material Weakness
  • 502983 2022-002
    Material Weakness Repeat
  • 502985 2022-002
    Material Weakness Repeat
  • 502986 2022-003
    Material Weakness
  • 502987 2022-001
    Material Weakness
  • 502988 2022-003
    Material Weakness
  • 502989 2022-001
    Material Weakness
  • 502990 2022-002
    Material Weakness Repeat
  • 502991 2022-001
    Material Weakness
  • 502992 2022-002
    Material Weakness Repeat
  • 502993 2022-003
    Material Weakness
  • 502994 2022-001
    Material Weakness
  • 502995 2022-002
    Material Weakness Repeat
  • 502996 2022-003
    Material Weakness
  • 1079424 2022-001
    Material Weakness
  • 1079425 2022-002
    Material Weakness Repeat
  • 1079426 2022-003
    Material Weakness
  • 1079427 2022-002
    Material Weakness Repeat
  • 1079428 2022-003
    Material Weakness
  • 1079429 2022-001
    Material Weakness
  • 1079430 2022-003
    Material Weakness
  • 1079431 2022-001
    Material Weakness
  • 1079432 2022-002
    Material Weakness Repeat
  • 1079433 2022-001
    Material Weakness
  • 1079434 2022-002
    Material Weakness Repeat
  • 1079435 2022-003
    Material Weakness
  • 1079436 2022-001
    Material Weakness
  • 1079437 2022-002
    Material Weakness Repeat
  • 1079438 2022-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $227,428
10.555 National School Lunch Program $145,001
84.010 Title I Grants to Local Educational Agencies $142,874
10.553 School Breakfast Program $48,152
93.778 Medical Assistance Program $21,685
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $14,996
84.027 Special Education Grants to States $12,743
84.424 Student Support and Academic Enrichment Program $12,051
10.559 Summer Food Service Program for Children $6,508
84.173 Special Education Preschool Grants $2,016
10.649 Pandemic Ebt Administrative Costs $614