ISD #2907 Round Lake Brewster

EIN: 463008929

UEI: PRMMZKKMNJC9

Showing data from August 20, 2026 — the Federal Audit Clearinghouse is under high demand right now, so this couldn't be refreshed. This is the most recent data on record, not necessarily today's.

ISD #2907 Round Lake Brewster3 audit years5 findings4 repeat
3
Audit Years
5
Total Findings
4
Repeat Findings

FY 2022-06-30

Management decision deadline — for entities that funded this organization

The FAC accepted this audit on January 8, 2023. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by July 8, 2023 (1146 days ago).

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2022-001
Other
MATERIAL WEAKNESSREPEAT

INTERNAL ACCOUNTING CONTROLS

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INTERNAL ACCOUNTING CONTROLS

Corrective Action Plan

Because it is economically infeasible to hire additional staff to adequately provide for the proper segregation of duties, the district implemented an internal control policy, that addresses the areas of segregation the district is lacking, including bank reconciliation, receipts, disbursements, payroll, journal entries, and budget. The policy utilizes staff and board members to ensure that segregation of duties occurs to the extent possible.

Prior Finding References

2021-001

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2022-002
Other
MATERIAL WEAKNESSREPEAT

GAAP FINANCIAL STATEMENTS

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GAAP FINANCIAL STATEMENTS

Corrective Action Plan

The District has studied the situation and found that it is economically infeasible to hire or provide adequate training required to adequately prepare financial statements in accordance with generally accepted accounting principles. The cost benefit of providing the necessary training to acquire and maintain this expertise prohibits it. Although the district will continue to have the auditor prepare the financial statements, the district implemented an internal control policy, that documents the annual review of the financial statements, disclosures and schedules.

Prior Finding References

2021-002

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2022-003
Other
MATERIAL WEAKNESSREPEAT

AUDIT ADJUSTMENTS

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AUDIT ADJUSTMENTS

Corrective Action Plan

The District has studied the situation and found that it is economically infeasible to hire or provide adequate training required to adequately prepare certain year-end adjustments. The cost benefit of providing the necessary training to acquire and maintain this expertise prohibits it. Although the district will continue to have the auditor prepare the adjustments, the district implemented an internal control policy, that documents the annual review of the audit adjustments proposed by the auditor.

Prior Finding References

2021-003

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2022-004
Other
MATERIAL WEAKNESSREPEAT

INTERNAL ACCOUNTING CONTROLS

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INTERNAL ACCOUNTING CONTROLS

Corrective Action Plan

Because it is economically infeasible to hire additional staff to adequately provide for the proper segregation of duties, the District implemented an internal control policy, that addresses the areas of segregation the District is lacking, including bank reconciliation, receipts, disbursements, payroll, journal entries, and budget. The policy utilizes staff and board members to ensure that segregation of duties occurs to the extent possible.

Prior Finding References

2021-004

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FY 2021-06-30

FAC accepted this audit on March 29, 2022 — management decision was due September 29, 2022.

2021-003
Other
MATERIAL WEAKNESS

Due to a limited number of office personnel, proper segregation of duties in the compliance for major programs is not always possible. Cause: This condition is not unusual where staffing size can result in an improper segregation of duties. Management has determined that given the size and resource limitations the desirable level of segregation of duties necessary may not be feasible. Effect: Without an adequate segregation of duties these are opportunities for errors or fraudulent activities to occur and remain undetected. Recommendation: We recommend that the District?s management be aware of the lack of segregation of the accounting functions and implement oversight procedures to ensure that the internal control policies and procedures are being implemented by staff and encourage additional controls as they become available due to changes in staff, etc.

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2021-III Internal Accounting Controls Criteria: Internal control should include an adequate segregation of duties in the compliance for major programs. Condition: Due to a limited number of office personnel, proper segregation of duties in the compliance for major programs is not always possible. Cause: This condition is not unusual where staffing size can result in an improper segregation of duties. Management has determined that given the size and resource limitations the desirable level of segregation of duties necessary may not be feasible. Effect: Without an adequate segregation of duties these are opportunities for errors or fraudulent activities to occur and remain undetected. Recommendation: We recommend that the District?s management be aware of the lack of segregation of the accounting functions and implement oversight procedures to ensure that the internal control policies and procedures are being implemented by staff and encourage additional controls as they become available due to changes in staff, etc.

Corrective Action Plan

Corrective Action Plan (CAP) Evaluation of disagreement with audit findings: There is no disagreement with the audit findings. Actions planned in response to the finding: Because it is economically infeasible to hire additional staff to adequately provide for the proper segregation of duties, the District implemented an internal control policy, that addresses the areas of segregation the District is lacking, including bank reconciliation, receipts, disbursements, payroll, journal entries, and budget. The policy utilizes staff and board members to ensure that segregation of duties occurs to the extent possible. Official responsible for Ensuring CAP: The District?s Superintendent is the official responsible for ensuring corrective action. Planned completion date for CAP: December 31, 2021 Plan to monitor completion of CAP: The Superintendent and Board of Education will monitor the internal control system to ensure it is functioning as the internal control policy states.

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