FAC Explorer

Finding 553815 (2024-002)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-04-02
Audit: 352483
Organization: Pleasant Valley School District No. 62 (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 2024 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 Illinois Program Accounting Manual (IPAM).

Corrective Action Plan

The district will review prior year audit entries to ensure all entries have been posted in a timely manner.

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.010 Title I Grants to Local Educational Agencies $569,683
84.425 Education Stabilization Fund $320,972
84.010 Title 1 School Improvement & Accountability $191,490
10.553 School Breakfast Program $133,778
10.559 Summer Food Service Program $123,430
84.027 Special Education Grants to States $123,226
10.555 National School Lunch Program $72,787
93.778 Medical Assistance Program $67,522
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $51,068
10.582 Fresh Fruit and Vegetable Program $35,225
84.424 Student Support and Academic Enrichment Program $27,966
10.555 Arp Child Nuturition - Supply Chain Assistance $15,298
10.555 Non-Cash Commodity Program $13,666
84.173 Special Education Preschool Grants $13,307
10.555 Fresh Fruits & Vegetables Favors Commodity $10,680
10.649 Pandemic Ebt Administrative Costs $653