FAC Explorer

Finding 972242 (2023-002)

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

AI Summary

  • Issue: Some fund custodians did not meet bonding requirements set by the Illinois School Code.
  • Trend: For one month in fiscal year 2023, the treasurer's bond was insufficient.
  • Follow-up: Ensure the treasurer's bond meets the requirement of at least 25% of total funds in custody.

Finding Text

One or more custodians of funds failed to comply with the bonding requirements of the Illinois School Code. The treasurer's bond in force was not sufficient to meet the bonding requirement for one month during fiscal year 2023. The Illinois School Code requires the district treasurer to be bonded for at least 25% of the total funds in his/her custody.

Categories

No categories assigned yet.

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