FAC Explorer

Finding 503210 (2024-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2024-10-21
Audit: 325288
Organization: Rockton School District No. 140 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District treasurer's role is compromised due to dual responsibilities.
  • Trend: Combining roles of treasurer and bookkeeper weakens internal controls.
  • List: Recommend separating these roles to enhance oversight and accountability.

Finding Text

The function of the District treasurer is to review the accounting functions and provide a measure of oversight over daily procedures. The District bookkeeper also serves as the District treasurer. Segregation of duties essential for proper internal control over financial transactions is compromised when the same person functions in the capacity of both the person responsible for recording transactions and the person responsible for oversight of the financial procedures.

Corrective Action Plan

The District will continue procedures to provide oversight to the bookkeeper and treasurer positions, including oversight of bank reconciliations.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $265,364
84.425 Education Stabilization Fund Esser III $201,314
84.010 Title I Grants to Local Educational Agencies $167,938
84.425 Education Stabilization Fund D4 $54,000
10.555 Crrsa Child Nutrition - National Supply Chain Assistance $44,617
93.778 Medical Assistance Program $30,772
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $29,855
10.555 Commodities Program $20,929
10.555 Dod Fresh Fruits and Vegetables Program $20,914
10.553 School Breakfast Program $15,605
84.173 Special Education Preschool Grants $10,763
84.424 Student Support and Academic Enrichment Program $10,081
10.649 Pandemic Ebt Administrative Costs $3,256
10.556 Special Milk Program for Children $1,061
84.027 Special Education Grants to States $924