FAC Explorer

Finding 649362 (2022-002)

Material Weakness Repeat Finding
Requirement
BL
Questioned Costs
-
Year
2022
Accepted
2023-03-23
Audit: 66132
Organization: Lisbon Community School Distirct (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 affects both revenue and expenditure processes, including federal program funds.
  • List: Recommend implementing clear roles for custody, record-keeping, and reconciliation to improve financial oversight.

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

  • 72920 2022-002
    Material Weakness Repeat
  • 72921 2022-002
    Material Weakness Repeat
  • 72922 2022-002
    Material Weakness Repeat
  • 649363 2022-002
    Material Weakness Repeat
  • 649364 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $441,959
84.425 Education Stabilization Fund $194,976
93.600 Head Start $162,977
10.553 School Breakfast Program $86,891
10.558 Child and Adult Care Food Program $66,196
84.010 Title I Grants to Local Educational Agencies $47,369
84.027 Special Education_grants to States $27,083
84.367 Improving Teacher Quality State Grants $14,644
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $4,291