FAC Explorer

Finding 52237 (2022-001)

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Requirement
P
Questioned Costs
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Year
2022
Accepted
2023-04-05
Audit: 48018
Organization: Eastland C.u.s.d. #308 (IL)
Auditor: Benning Group LLC

AI Summary

  • Core Issue: The District failed to prepare accurate financial statements, leading to material audit adjustments.
  • Impacted Requirements: Compliance with the Illinois School Code and the Illinois Program Accounting Manual (IPAM) was not met.
  • Recommended Follow-Up: Implement a review process to ensure financial statements align with legal requirements before submission.

Finding Text

The District is responsible for preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2022 financial audit. Several adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

Change the FY23 bus lease entries/payments to match new coding requirements. See the full Corrective Action Plan included with the reporting package.

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund Esser III $564,405
10.555 National School Lunch Program $317,462
84.027 Special Education_grants to States $145,595
84.010 Title I Grants to Local Educational Agencies $117,085
10.553 School Breakfast Program $83,868
84.358 Rural Education $32,356
10.555 Fresh Fruits and Vegetables $29,618
10.555 Non-Cash Food Commodity $26,669
84.367 Improving Teacher Quality State Grants $19,185
10.560 State Administrative Expenses for Child Nutrition $17,133
93.778 Medical Assistance Program $13,435
84.424 Student Support and Academic Enrichment Program $10,653
84.173 Special Education_preschool Grants $6,217
10.558 Child and Adult Care Food Program $2,680
10.649 Pandemic Ebt Administrative Costs $614
10.558 Emergency Cost Funding for Cacfp Centers & Homes $332