FAC Explorer

Finding 951049 (2023-003)

Material Weakness Repeat Finding
Requirement
ABFGLMN
Questioned Costs
-
Year
2023
Accepted
2024-03-08
Audit: 294275
Organization: Spencer Community School District (IA)
Auditor: Cornwell Frideres Maher & Associates P L C

AI Summary

  • Answer: The district failed to separate key financial duties, which increases the risk of errors or fraud.
  • Trend: This issue is consistent with previous findings regarding inadequate internal controls.
  • List: Immediate action is needed to implement proper segregation of duties, especially for federal program functions.

Finding Text

SEGREGATION OF DUTIES - THE DISTRICT DID NOT PROPERLY SEGREGATE CUSTODY, RECORD-KEEPING AND RECONCILING FUNCTIONS, INCLUDING THOSE RELATED TO FEDERAL PROGRAMS. SEE 2023-001

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 374600 2023-003
    Material Weakness Repeat
  • 374601 2023-003
    Material Weakness Repeat
  • 374602 2023-003
    Material Weakness Repeat
  • 374603 2023-003
    Material Weakness Repeat
  • 374604 2023-003
    Material Weakness Repeat
  • 374605 2023-003
    Material Weakness Repeat
  • 374606 2023-003
    Material Weakness Repeat
  • 374607 2023-003
    Material Weakness Repeat
  • 951042 2023-003
    Material Weakness Repeat
  • 951043 2023-003
    Material Weakness Repeat
  • 951044 2023-003
    Material Weakness Repeat
  • 951045 2023-003
    Material Weakness Repeat
  • 951046 2023-003
    Material Weakness Repeat
  • 951047 2023-003
    Material Weakness Repeat
  • 951048 2023-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.010 Title I Grants to Local Educational Agencies $366,477
10.553 School Breakfast Program $159,784
10.555 National School Lunch Program $106,854
84.027 Special Education_grants to States $100,192
10.559 Summer Food Service Program for Children $71,335
84.367 Improving Teacher Quality State Grants $50,952
84.425 Education Stabilization Fund $37,773
84.424 Student Support and Academic Enrichment Program $20,174
32.009 Emergency Connectivity Fund Program $11,760
84.048 Career and Technical Education -- Basic Grants to States $11,433
10.185 Local Food for Schools $7,882