FAC Explorer

Finding 560539 (2023-003)

Material Weakness Repeat Finding
Requirement
C
Questioned Costs
-
Year
2023
Accepted
2025-05-16
Audit: 356444
Organization: Elverado Community Unit School District (CO)
Auditor: Atlas CPAS & Advisors PLLC

AI Summary

  • Answer: The District must have a solid internal control system to manage money effectively.
  • Trend: Weak controls can lead to mistakes or fraud, which can harm the District's finances.
  • List: Ensure controls are in place for receipts and disbursements to protect against errors and theft.

Finding Text

The District is responsible for establishing and maintaining an internal control system over receipts and disbursements to prevent unintentional or intentional errors, misappropriations of assets, and fraud.

Corrective Action Plan

The District will segregate duties to the best of its ability and ensure proper oversight by management.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 560537 2023-001
    Material Weakness Repeat
  • 560538 2023-002
    Material Weakness Repeat
  • 1136979 2023-001
    Material Weakness Repeat
  • 1136980 2023-002
    Material Weakness Repeat
  • 1136981 2023-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $590,968
10.555 National School Lunch Program $213,145
84.010 Title I Grants to Local Educational Agencies $157,410
10.553 School Breakfast Program $71,623
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $27,670
93.778 Medical Assistance Program $22,114
84.424 Student Support and Academic Enrichment Program $16,874
84.027 Special Education Grants to States $7,462
84.173 Special Education Preschool Grants $4,238
10.649 Pandemic Ebt Administrative Costs $628