Finding 52386 (2022-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2022-10-19
Audit: 45057
Organization: City of Fort Madison, Iowa (IA)

AI Summary

  • Answer: The City failed to separate duties for handling cash receipts, which is a key control measure.
  • Trend: This issue may lead to increased risk of errors or fraud, especially concerning federal program funds.
  • List: Implement proper segregation of duties for collection, deposit, and record-keeping to enhance financial controls.

Finding Text

The City did not properly segregate collection, deposit and record keeping for receipts, including those related to federal programs.

Corrective Action Plan

City of Fort Madison respectfully submits the following corrective action plan for the year ended June 30, 2022. Name and address of independent public accounting firm: CPA Associates PC 401 S. Roosevelt Ave. Ste 2A Burlington, IA 52601 Audit period: as of and for the year ended June 30, 2022 Findings from the June 30, 2022 schedule of findings are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS RELATED TO THE FINANCIAL STATEMENTS II-A-22 Segregation of Duties Recommendation: The City should review its control activities to obtain the maximum internal control possible under the circumstances utilizing currently available staff, including elected officials. Action Taken: We concur with the recommendation and we will continue to review operating procedures and segregate employee duties to the extent financially feasible to maximize internal control. FINDINGS FOR FEDERAL AWARDS 2022-001 Disaster Grants - Public Assistance (Presidentially Declared Disasters) CFDA #97.036 Segregation of Duties over Federal Receipts Recommendation: The City should review its control activities to obtain the maximum internal control possible under the circumstances utilizing currently available staff, including elected officials. Action Taken: We concur with the recommendation and we will continue to review operating procedures and segregate employee duties to the extent financially feasible to maximize internal control.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 52387 2022-001
    Significant Deficiency Repeat
  • 52388 2022-001
    Significant Deficiency Repeat
  • 52389 2022-001
    Significant Deficiency Repeat
  • 52390 2022-001
    Significant Deficiency Repeat
  • 52391 2022-001
    Significant Deficiency Repeat
  • 52392 2022-001
    Significant Deficiency Repeat
  • 52393 2022-001
    Significant Deficiency Repeat
  • 52394 2022-001
    Significant Deficiency Repeat
  • 52395 2022-001
    Significant Deficiency Repeat
  • 52396 2022-001
    Significant Deficiency Repeat
  • 52397 2022-001
    Significant Deficiency Repeat
  • 628828 2022-001
    Significant Deficiency Repeat
  • 628829 2022-001
    Significant Deficiency Repeat
  • 628830 2022-001
    Significant Deficiency Repeat
  • 628831 2022-001
    Significant Deficiency Repeat
  • 628832 2022-001
    Significant Deficiency Repeat
  • 628833 2022-001
    Significant Deficiency Repeat
  • 628834 2022-001
    Significant Deficiency Repeat
  • 628835 2022-001
    Significant Deficiency Repeat
  • 628836 2022-001
    Significant Deficiency Repeat
  • 628837 2022-001
    Significant Deficiency Repeat
  • 628838 2022-001
    Significant Deficiency Repeat
  • 628839 2022-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
20.205 Highway Planning and Construction $234,575
20.106 Airport Improvement Program $69,982
16.738 Edward Byrne Memorial Justice Assistance Grant Program $11,333
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $5,487
45.310 Grants to States $3,578
16.609 Project Safe Neighborhoods $3,198
20.600 State and Community Highway Safety $123
16.710 Public Safety Partnership and Community Policing Grants $101