FAC Explorer

Finding 592395 (2022-004)

Material Weakness
Requirement
AB
Questioned Costs
-
Year
2022
Accepted
2023-03-27
Audit: 22291
Organization: New London Community School District (IA)
Auditor: Terpstra Hoke and Associates PC

AI Summary

  • Answer: The District failed to separate key payroll functions, which is a critical control issue.
  • Trend: This lack of segregation affects not only payroll but also impacts compliance with federal program requirements.
  • List: Follow up by reviewing and implementing proper segregation of duties to enhance internal controls.

Finding Text

2022-004 Segregation of Duties The District did not properly segregate custody, record keeping, and reconciling functions for payroll, including those related to federal programs. See 2022-001.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 15953 2022-004
    Material Weakness
  • 15954 2022-004
    Material Weakness
  • 15955 2022-004
    Material Weakness
  • 592396 2022-004
    Material Weakness
  • 592397 2022-004
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $316,676
84.425 Education Stabilization Fund $189,110
10.553 School Breakfast Program $90,285
84.010 Title I Grants to Local Educational Agencies $70,184
84.358 Rural Education $39,409
10.559 Summer Food Service Program for Children $17,519
84.367 Supporting Effective Instruction State Grants $10,605
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education - Basic Grants to States $6,023
84.027 Special Education Grants to States $3,695