FAC Explorer

Finding 608010 (2022-002)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-22
Audit: 35913
Organization: East Buchanan Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial duties, which is a significant control weakness.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommended actions include implementing proper segregation of duties and regular audits to ensure compliance.

Finding Text

The District did not properly segregate custody, record-keeping and reconciling functions for revenues and expenditures, including those related to federal programs.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 31568 2022-002
    Material Weakness
  • 31569 2022-002
    Material Weakness
  • 608011 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $365,991
84.425 Education Stabilization Fund $272,792
84.010 Title I Grants to Local Educational Agencies $80,600
10.553 School Breakfast Program $67,533
84.358 Rural Education $40,951
84.027 Special Education_grants to States $25,238
93.600 Head Start $13,861
84.367 Improving Teacher Quality State Grants $11,834
84.424 Student Support and Academic Enrichment Program $10,696
84.048 Career and Technical Education -- Basic Grants to States $4,113