FAC Explorer

Finding 621732 (2022-002)

Material Weakness Repeat Finding
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-20
Audit: 50998
Organization: Highland Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial duties, which can lead to errors and fraud.
  • Trend: This issue is common in organizations that do not prioritize internal controls.
  • List: Recommend implementing clear roles for custody, recordkeeping, and reconciliation to enhance financial oversight.

Finding Text

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

Categories

No categories assigned yet.

Other Findings in this Audit

  • 45290 2022-002
    Material Weakness Repeat
  • 45291 2022-002
    Material Weakness Repeat
  • 621733 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $360,049
84.425 Education Stabilization Fund $263,184
10.553 School Breakfast Program $61,198
84.367 Improving Teacher Quality State Grants $12,421
84.424 Student Support and Academic Enrichment Program $10,000
84.027 Special Education_grants to States $5,850
84.010 Title I Grants to Local Educational Agencies $3,085
84.365 English Language Acquisition State Grants $339