FAC Explorer

Finding 943394 (2022-002)

Material Weakness
Requirement
ABEILN
Questioned Costs
-
Year
2022
Accepted
2024-02-13
Audit: 290135
Organization: Coon Rapids-Bayard Community School District (IA)
Auditor: Nolte Cornman & Johnson PC

AI Summary

  • Core Issue: One employee has too much control over critical financial areas, risking incompatible duties.
  • Impacted Requirements: This violates the principle of segregation of duties, essential for internal controls.
  • Recommended Follow-Up: Review and redistribute responsibilities to ensure no single employee manages conflicting tasks.

Finding Text

One important aspect of the internal control structure is the segregation of duties among employees to prevent an individual employee from handling duties which are incompatible. We noted one individual has control over portions of one or more of the following areas for the District relating to major federal programs; cash, receipts, disbursements, payroll, capital assets, computer systems, journal entries and financial reporting. See finding 2022-001.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 366952 2022-002
    Material Weakness
  • 366953 2022-002
    Material Weakness
  • 366954 2022-002
    Material Weakness
  • 366955 2022-002
    Material Weakness Repeat
  • 943395 2022-002
    Material Weakness
  • 943396 2022-002
    Material Weakness
  • 943397 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $339,326
10.555 National School Lunch Program $284,501
84.010 Title I Grants to Local Educational Agencies $90,229
10.553 School Breakfast Program $67,839
84.358 Rural Education $36,592
84.367 Improving Teacher Quality State Grants $14,599
84.424 Student Support and Academic Enrichment Program $10,000
10.559 Summer Food Service Program for Children $8,635
84.027 Special Education_grants to States $3,182