FAC Explorer

Finding 628424 (2022-001)

Significant Deficiency Repeat Finding
Requirement
P
Questioned Costs
-
Year
2022
Accepted
2023-02-26
Audit: 52138
Organization: Unified School District No. 466 (KS)
Auditor: Vonfeldt Bauer & Vonfeldt Chtd

AI Summary

  • Core Issue: There is a lack of segregation of duties in the accounting function due to a limited number of employees.
  • Impacted Requirements: Proper segregation of duties is necessary to ensure financial statements are accurate and free from material misstatements.
  • Recommended Follow-Up: The Superintendent and Board of Education should consider this issue during their review of financial activities and reports.

Finding Text

Finding 2022-001 - Lack of Segregation of Duties CONDITION: Lack of segregation of duties due to the small number of employees involved in the accounting function of the District. CRITERIA: Segregation of duties should be in place to provide reasonable assurance that the financial statement is fairly stated and free of material misstatement. CAUSE: Small number of employees in the accounting function makes proper segregation of duties impossible. POTENTIAL EFFECT OF CONDITION: Errors or irregularities could occur that would not be prevented or detected in a timely manner that would cause a misstatement of the financial statement that is more than inconsequential. RECOMMENDATION: To mitigate this deficiency we recommend that the Superintendent and Board of Education consider this condition while performing their monitoring and review of the financial statement activity and reports. CLIENT RESPONSE: The District is in agreement with this finding. The District's response is in the attached Corrective Action Plan.

Categories

Subrecipient Monitoring Internal Control / Segregation of Duties

Other Findings in this Audit

  • 51982 2022-001
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $897,832
10.555 National School Lunch Program $574,874
84.010 Title I Grants to Local Educational Agencies $151,074
10.559 Summer Food Service Program for Children $111,499
10.553 School Breakfast Program $89,003
84.287 Twenty-First Century Community Learning Centers $68,909
84.367 Improving Teacher Quality State Grants $25,141
84.424 Student Support and Academic Enrichment Program $17,260
84.365 English Language Acquisition State Grants $14,065
10.649 Pandemic Ebt Administrative Costs $614
93.079 Cooperative Agreements to Promote Adolescent Health Through School-Based Hiv/std Prevention and School-Based Surveillance $267