FAC Explorer

Finding 622579 (2022-001)

Material Weakness Repeat Finding
Requirement
L
Questioned Costs
-
Year
2022
Accepted
2022-10-30
Audit: 40647
Organization: Oglesby Esd No. 125 (IL)
Auditor: Newkirk & Associates INC

AI Summary

  • Answer: The District lacks proper internal controls for financial reporting.
  • Trend: There is a growing reliance on auditors due to insufficient expertise among District personnel.
  • List: Key issues include inadequate segregation of duties in payroll and cash disbursement functions.

Finding Text

The District must have functioning controls over financial reporting. The District does not have adequate internal controls and segregation of duties over financial reporting, and relies upon the auditor for this expertise. It was determined that District personnel do not have the expertise necessary to prepare external financial reports without assistance from the auditor and there is a lack of segregation of duties over payroll and cash disbursement functions.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 46137 2022-001
    Material Weakness Repeat
  • 46138 2022-002
    Material Weakness
  • 622580 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $580,784
10.555 National School Lunch Program $181,217
84.027 Special Education_grants to States $134,720
84.010 Title I Grants to Local Educational Agencies $108,925
10.553 School Breakfast Program $38,160
84.367 Improving Teacher Quality State Grants $16,768
93.778 Medical Assistance Program $14,135
10.560 State Administrative Expenses for Child Nutrition $13,124
10.555 Commodities $12,899
10.555 Dept. of Defense- Fresh Fruits and Vegetables $9,387
84.173 Special Education_preschool Grants $4,795
10.556 Special Milk Program for Children $1,771
10.649 Pandemic Ebt Administrative Costs $614