Finding 571543 (2024-007)

Material Weakness
Requirement
ABFGIMN
Questioned Costs
-
Year
2024
Accepted
2025-07-17
Audit: 362505
Organization: County of Floyd (IA)

AI Summary

  • Core Issue: The County has not properly separated duties for managing federal awards, which increases the risk of errors or fraud.
  • Impacted Requirements: This lack of segregation violates best practices for internal controls over federal revenues.
  • Recommended Follow-Up: Implement a clear division of responsibilities for custody, recordkeeping, and reconciliation of federal awards.

Finding Text

Segregation of Duties over Federal Revenues - Duties related to the custody, recordkeeping and reconciling of federal awards are not properly segregated by the County.

Corrective Action Plan

We will review procedures and plan to make the necessary changes to improve internal control.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 571544 2024-007
    Material Weakness
  • 1147985 2024-007
    Material Weakness
  • 1147986 2024-007
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
20.205 Highway Planning and Construction $1.25M
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.10M
93.778 Medical Assistance Program $21,036
93.044 Special Programs for the Aging, Title Iii, Part B, Grants for Supportive Services and Senior Centers $17,000
10.561 State Administrative Matching Grants for the Supplemental Nutrition Assistance Program $13,574
20.600 State and Community Highway Safety $3,971
93.667 Social Services Block Grant $3,664
93.658 Foster Care Title IV-E $2,621
93.596 Child Care Mandatory and Matching Funds of the Child Care and Development Fund $2,284
93.659 Adoption Assistance $1,743
93.268 Immunization Cooperative Agreements $1,311
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1,284
93.472 Title IV-E Prevention Program $474
93.767 Children's Health Insurance Program $412
93.566 Refugee and Entrant Assistance State/replacement Designee Administered Programs $76
93.090 Guardianship Assistance $4