Finding 574121 (2024-001)

Material Weakness Repeat Finding
Requirement
ABF
Questioned Costs
-
Year
2024
Accepted
2025-08-21

AI Summary

  • Answer: There is a material weakness in internal controls related to revenue management.
  • Trend: This issue indicates ongoing risks in compliance due to inadequate segregation of duties.
  • List: Recommend reviewing and updating internal controls to ensure proper segregation of duties for revenue processes.

Finding Text

A material weakness in internal controls was noted due to a lack of proper segregation of duties for revenues which affect compliance requirements.

Corrective Action Plan

For this finding, Dr. Michael Ormsmith is the contact person responsible for the corrective action plan. This finding is due to having only two employees in the Business Office, both who have separate duties to cover the workload. Staffing in the office is at an efficient and financially feasible level and precludes the hiring of additional personnel to provide an ideal environment for internal controls. The Wessinton Springs School Districted adopted Policy DA-R(1) Fiscal Management Internal Controls and Procedures on January 9, 2023. The district is aware of the weakness in internal controls and will adhere to the policy we have in place while providing compensating controls to reduce the risk. This is an ongoing process.

Categories

Internal Control / Segregation of Duties Material Weakness

Other Findings in this Audit

  • 574122 2024-001
    Material Weakness Repeat
  • 1150563 2024-001
    Material Weakness Repeat
  • 1150564 2024-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $443,289
84.010 Title I Grants to Local Educational Agencies $143,919
84.027 Special Education Grants to States $94,542
84.367 Supporting Effective Instruction State Grants (formerly Improving Teacher Quality State Grants) $23,561
10.555 National School Lunch Program $16,640
84.424 Student Support and Academic Enrichment Program $13,146
10.582 Fresh Fruit and Vegetable Program $11,155
10.553 School Breakfast Program $5,978
84.173 Special Education Preschool Grants $3,126