October 25, 2023
School District No. 55-0145, Waverly, Nebraska, respectfully submits the following corrective action plan for the year ended August 31, 2023.
Name and address of independent public accounting firm: Romans, Wiemer & Associates, Certified Public Accountants, P.C., 1910 N Lincoln Ave, York, NE 68467
Audit Period: September 1, 2022 through August 31, 2023
The findings from the October 25, 2023 schedule of findings and questioned cost are discussed below. The findings are numbered consistently with the numbers assigned in the schedule.
FINDINGS – FINANCIAL STATEMENT AUDIT
MATERIAL WEAKNESS
2023-001 Internal Control Structure Design
Recommendation: While considering the cost of any benefits derived, activities
should be segregated and handled by different employees.
Action Taken: The cost of implementing a complete set of controls far outweighs the benefits derived by such. It is not financially feasible to have a complete set of controls.
FINDINGS – FEDERAL AWARD PROGRAM AUDIT
Nebraska Department of Education
2023-002 Internal Control Structure Design
Recommendation: While considering the cost of any benefits derived, activities
should be segregated and handled by different employees.
Action Taken: The cost of implementing a complete set of controls far outweighs the benefits derived by such. It is not financially feasible to have a complete set of controls.
If the Nebraska Department of Education has questions regarding this plan, please call Mikal Shalikow at (402) 786-2321.