FAC Explorer

Finding 577553 (2022-003)

Material Weakness
Requirement
ABFL
Questioned Costs
-
Year
2022
Accepted
2023-11-02
Audit: 2118
Organization: North Tama County Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: One employee has too much control over critical financial areas, which increases the risk of errors or fraud.
  • Impacted Requirements: This violates the principle of segregation of duties necessary for effective internal controls.
  • Recommended Follow-Up: Review and redistribute responsibilities among staff to ensure proper checks and balances are in place.

Finding Text

One important aspect of the internal control structure is the segregation of duties among employees to prevent an individual employee from handling duties which are incompatible. We noted one individual has control over portions of one or more of the following areas for the District relating to major federal programs; cash, investments, inventories, receipts, disbursements, transfers, computers systems, financial reporting, journal entries and school nutrition program. See finding 2022-001.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 1111 2022-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $353,532
10.555 National School Lunch Program $284,692
84.010 Title I Grants to Local Educational Agencies $71,293
10.553 School Breakfast Program $28,150
84.358 Rural Education $25,148
84.367 Improving Teacher Quality State Grants $15,440
84.424 Student Support and Academic Enrichment Program $10,000
84.027 Special Education_grants to States $3,074
10.649 Pandemic Ebt Administrative Costs $614