FAC Explorer

Finding 972241 (2023-001)

Material Weakness Repeat Finding
Requirement
P
Questioned Costs
-
Year
2023
Accepted
2024-05-03
Audit: 305425
Organization: Winnebago Cusd #323 (IL)
Auditor: Benning Group LLC

AI Summary

  • Answer: The District must ensure accurate financial statements, as material audit adjustments were found during the 2023 audit.
  • Trend: Ongoing issues with reporting revenue and expenses correctly indicate a need for improved financial practices.
  • List: Follow up by reviewing financial reporting processes and training staff on compliance with the Illinois School Code and IPAM.

Finding Text

The District is responsible for the preparation of accurate financial statements. Material audit adjustments were identified during the fiscal year 2023 financial audit. Several adjustments were needed in order to properly report certain items of revenue and expense in accordance with the provisions of the Illinois School Code and the Illinois Program Accounting Manual (IPAM).

Categories

Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund E3 $845,803
84.010 Title I Grants to Local Educational Agencies $572,113
84.027 Special Education_grants to States $331,324
10.555 National School Lunch Program $224,412
84.027 Special Education_grants to States Arp Idea Ft $59,962
10.555 Arp Child Nutrition Supply Chain $43,596
84.367 Improving Teacher Quality State Grants $34,721
10.555 Non-Cash Food Commodity Program $33,399
93.778 Medical Assistance Program $29,117
84.424 Student Support and Academic Enrichment Program $27,787
10.555 School Breakfast Program $11,327
84.173 Special Education_preschool Grants $10,623
10.555 Fresh Fruits and Vegetables Program $10,608
84.173 Special Education_preschool Grants Arp Idea Ps $4,059
10.553 School Breakfast Program $1,348
10.649 Pandemic Ebt Administrative Costs $628
84.425 Education Stabilization Fund D4 $0