FAC Explorer

Finding 611578 (2022-001)

Material Weakness Repeat Finding
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-08
Audit: 37319
Organization: Mediapolis Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: One person is handling multiple financial tasks, which raises concerns about internal controls.
  • Trend: This practice can lead to increased risk of errors or fraud due to lack of oversight.
  • List: Recommend separating these duties to enhance accountability and improve financial integrity.

Finding Text

I noted that the same individual performed the following duties: recording and processing of cash receipts, preparing checks and bank reconciliations, preparation of journals and general financial information for leger posting, and the analysis of financial information.

Categories

No categories assigned yet.

Other Findings in this Audit

  • 35134 2022-001
    Material Weakness Repeat
  • 35135 2022-001
    Material Weakness Repeat
  • 35136 2022-001
    Material Weakness Repeat
  • 611576 2022-001
    Material Weakness Repeat
  • 611577 2022-001
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $494,067
10.555 National School Lunch Program $492,012
84.010 Title I Grants to Local Educational Agencies $96,401
10.553 School Breakfast Program $68,569
84.027 Special Education_grants to States $42,660
84.367 Improving Teacher Quality State Grants $20,110
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $6,034
10.558 Child and Adult Care Food Program $1,914