FAC Explorer

Finding 968553 (2022-002)

Material Weakness Repeat Finding
Requirement
ABFL
Questioned Costs
-
Year
2022
Accepted
2024-04-02
Audit: 302272
Organization: Osage Community School District (IA)
Auditor: Nolte Cornman & Johnson

AI Summary

  • Core Issue: One employee has too much control over critical financial areas, risking incompatible duties.
  • Impacted Requirements: This affects compliance with internal control standards for major federal programs.
  • Recommended Follow-Up: Implement proper segregation of duties to enhance oversight and reduce risk.

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, disbursements, inventories, payroll, receipts, financial reporting, school nutrition program and journal entries. See finding 2022-001

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 392111 2022-002
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $729,822
10.555 National School Lunch Program $612,631
84.010 Title I Grants to Local Educational Agencies $130,974
10.553 School Breakfast Program $91,735
84.367 Improving Teacher Quality State Grants $29,685
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $8,555
84.027 Special Education_grants to States $6,250
10.559 Summer Food Service Program for Children $4,377
10.579 Child Nutrition Discretionary Grants Limited Availability $1,000
10.649 Pandemic Ebt Administrative Costs $614