Finding Text
Equipment/Real Property Management. The District budgeted for and reported expenditures that were below its capitalization threshold of $5,000 in a capital outlay object in its general ledger and reports to ISBE. No questioned costs. The District budgeted for and reported $12,351 of expenditures for the ESSER 2 grant in a capital outlay object in both its general ledger and reports to ISBE when each individual item was below its capitalization threshold of $5,000. The District reported expenditures for non-capital outlay items that were below its capitalization threshold of $5,000 in a capital outlay object. The District inadvertently included individual items below its capitalization threshold of $5,000 in a capital outlay object. We recommend that only individual items that meet or exceed the District's capitalization threshold of $5,000 be included in capital outlay objects in its general ledger and expenditure reports to ISBE. The District will ensure that only items that meet or exceed the capitalization threshold of $5,000 be included in capital outlay objects.