FAC Explorer

Finding 623748 (2022-003)

Material Weakness
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-04-04
Audit: 42004
Organization: North Cedar Community School District (IA)
Auditor: Kay Chapman CPA PC

AI Summary

  • Answer: The District failed to separate key financial roles, which can lead to errors or fraud.
  • Trend: This issue affects both revenue and expenditure processes, including federal program funds.
  • List: Recommend implementing clear role divisions for custody, record-keeping, and reconciliation to enhance financial controls.

Finding Text

The District did not properly segregated 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

  • 47306 2022-003
    Material Weakness
  • 47307 2022-003
    Material Weakness
  • 47308 2022-003
    Material Weakness
  • 623749 2022-003
    Material Weakness
  • 623750 2022-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $440,963
84.425 Education Stabilization Fund $356,491
10.553 School Breakfast Program $146,198
84.010 Title I Grants to Local Educational Agencies $130,559
84.027 Special Education_grants to States $33,552
10.558 Child and Adult Care Food Program $27,289
84.367 Improving Teacher Quality State Grants $21,858
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $4,548