Finding 571145 (2024-001)

Significant Deficiency

Requirement

Questioned Costs

Year

2024

Accepted

2025-07-13

Audit: 362061

Organization: Village of Williamsfield (IL)

Auditor: West Central CPA

AI Summary

Core Issue: There is a lack of proper control over cash handling and payroll processes due to insufficient segregation of duties.
Impacted Requirements: This situation increases the risk of errors and fraud in cash receipts, disbursements, and payroll processing.
Recommended Follow-Up: Consider hiring additional staff or implementing cross-training to improve duty segregation and enhance controls.

Finding Text

There is inadequate control over the functions of cash receipts, cash disbursements,, and processing and recording payroll at the Village due to the inadequate segregation of duties stemming from limited personnel.

Corrective Action Plan

Corrective Action Plan Finding Number 2024-001 - Segregation of Duties Management will continue to review the monthly financial reports that the bookkeeper prepares, along with bank statements and bank reconciliations. Before payment, management reviews and approves all invoices and employee time sheets. Name of Contact Person – April Bouchez, Treasurer Anticipated Date of Completion - There is no completion date for this item

Other Findings in this Audit

1147587 2024-001

Significant Deficiency

Programs in Audit

ALN	Program Name	Expenditures
66.468	Drinking Water State Revolving Fund	$800,216