FAC Explorer

Finding 519760 (2024-001)

Material Weakness Repeat Finding
Requirement
B
Questioned Costs
-
Year
2024
Accepted
2025-01-20
Audit: 338874
Organization: Morris County Usd 417 (KS)
Auditor: Cindy Jensen CPA

AI Summary

  • Core Issue: One employee is handling most financial reporting and compliance tasks, increasing the risk of errors and noncompliance.
  • Impacted Requirements: Segregation of duties is necessary to enhance internal controls over financial processes.
  • Recommended Follow-Up: Separate duties where possible, implement purchase requisitions, require approval for journal entries, and ensure relevant training for all involved employees.

Finding Text

Condition: Financial reporting and compliance tasks are often times being performed by one employee. Criteria: Segregation of duties should be in place to strengthen internal control over financial reporting and compliance. Cause: The District has administrative employees performing many tasks with little or no review. Effect: Because many of the financial related and compliance tasks are being performed by one employee, financial reporting errors and noncompliance can occur without the issue being timely detected. Recommendation: We recommend separating duties to the extent possible including the use of purchase requisitions for all purchasing and requiring approval of all journal entries. In addition, all employees assigned with these duties should obtain relevant training.

Corrective Action Plan

We agree with the recommendations and will separate duties and obtain training to the extent possible with our available resources. Ther superintendent and board will continue to monitor duties performed by the administrative personnel and contract for professional assistance as necessary.

Categories

Internal Control / Segregation of Duties Procurement, Suspension & Debarment Reporting

Other Findings in this Audit

  • 519761 2024-001
    Material Weakness Repeat
  • 1096202 2024-001
    Material Weakness Repeat
  • 1096203 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $450,265
93.323 Epidemiology and Laboratory Capacity for Infectious Diseases (elc) $418,222
10.555 National School Lunch Program $275,280
84.010 Title I Grants to Local Educational Agencies $247,257
10.559 Summer Food Service Program for Children $124,738
10.553 School Breakfast Program $81,338
10.579 Child Nutrition Discretionary Grants Limited Availability $74,759
84.358 Rural Education $20,880
93.558 Temporary Assistance for Needy Families $18,660
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $8,174
10.185 Local Food for Schools Cooperative Agreement Program $5,633
84.048 Career and Technical Education -- Basic Grants to States $2,264
32.009 Emergency Connectivity Fund Program $1,610