FAC Explorer

Finding 976374 (2022-002)

Material Weakness
Requirement
ABFL
Questioned Costs
-
Year
2022
Accepted
2024-06-05
Audit: 308090
Organization: Wapello 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 affects compliance with internal control standards for major federal programs.
  • Recommended Follow-Up: Implement proper segregation of duties to enhance internal controls 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, investments, receipts, disbursements, financial reporting, school lunch program and journal entries. See finding 2022-001.

Categories

Internal Control / Segregation of Duties Reporting

Other Findings in this Audit

  • 399930 2022-002
    Material Weakness
  • 399931 2022-002
    Material Weakness
  • 399932 2022-002
    Material Weakness
  • 399933 2022-002
    Material Weakness
  • 976372 2022-002
    Material Weakness
  • 976373 2022-002
    Material Weakness
  • 976375 2022-002
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
10.555 National School Lunch Program $333,628
84.425 Education Stabilization Fund $132,823
84.010 Title I Grants to Local Educational Agencies $108,382
10.553 School Breakfast Program $81,596
84.358 Rural Education $37,322
10.559 Summer Food Service Program for Children $36,906
84.367 Improving Teacher Quality State Grants $15,142
84.424 Student Support and Academic Enrichment Program $10,000
84.048 Career and Technical Education -- Basic Grants to States $7,038
84.027 Special Education_grants to States $4,177