REPORT DIGEST

REGIONAL OFFICE OF EDUCATION # 43
MARSHALL/PUTNAM/ WOODFORD COUNTIES
FINANCIAL AUDIT

For the Year Ended:
June 30, 2002

Summary of Findings:

Total this audit 1
Total last audit 1
Repeated from last audit 1

Release Date:
January 23, 2003

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State of Illinois

Office of the Auditor General

WILLIAM G. HOLLAND

AUDITOR GENERAL

To obtain a copy of the Report contact:
Office of the Auditor General
Attn: Records Manager
Iles Park Plaza
740 E. Ash Street
Springfield, IL 62703
(217)782-6046 or TDD (217) 524-4646
This Report Digest is also available on
the worldwide web at
http://www.state.il.us/auditor

  

 

 

 

 

 

 

 

 

 

SYNOPSIS

 

 
  • One person has primary responsibility for most of the accounting and financial duties for the Regional Office of Education #43.

 

 

 

 

 

{Expenditures and Activity Measures are summarized on the reverse page.}

 

REGIONAL OFFICE OF EDUCATION # 43
MARSHALL/PUTNAM/WOODFORD COUNTIES
FINANCIAL AUDIT
For The Year Ended June 30, 2002

FY 2002

FY 2001
TOTAL REVENUES

1$268,696

$85,951

Local sources

$35,283

$15,462

% of Total Revenues

13.13%

17.99%

State Sources

1$232,096

$70,489

% of Total Revenues

86.38%

82.01%

Federal Sources

$1,317

$0

% of Total Revenues

.49%

0%
TOTAL EXPENDITURES

1$262,808

$83,894

Salaries and Benefits

1$164,892

$0

% of Total Expenditures

62.74%

0%

Purchased Services

$94,678

$79,289

% of Total Expenditures

36.03%

94.51%

All Other Expenditures

$3,238

$4,605

% of Total Expenditures

1.23%

5.49%
COST OF PROPERTY AND EQUIPMENT

$1,177**

$ 0**

Note: Fiscal Year 2001 data was obtained from audits of ROEs conducted under the direction of the Illinois State Board of Education.
1Fiscal Year 2002 amounts include on-behalf payments ($164,892). On-behalf payments were not included in Fiscal Year 2001.
* Percentages may not add due to rounding.
** Marshall, Putnam and Woodford Counties provide the fixed assets used by the ROE. Thus, the counties are responsible for those records and the recording of those assets. However, the ROE did purchase some fixed assets during the Fiscal Year 2002.
REGIONAL SUPERINTENDENT
During Audit Period: Honorable Richard Herring
Currently: Honorable Rolland Marshall
 

 

 

One person has primary responsibility for most of the accounting and financial duties for the Regional Office of Education #43.

FINDINGS, CONCLUSIONS AND RECOMMENDATIONS

INADEQUATE SEGREGATION OF DUTIES

One person has primary responsibility for most of the accounting and financial duties for the Regional Office of Education #43. Inadequate segregation of duties could limit the effectiveness and efficiency of the internal control system.

The Regional Superintendent of Schools is responsible for establishing and maintaining an internal control system to prevent errors and/or irregularities. (Finding 02-1, page 13)

The Regional Superintendent should maintain adequate segregation of duties for the accounting and financial duties within the Regional Office of Education #43.

The Regional Office of Education #43’s personnel accepted the auditor’s recommendation. The Regional Superintendent will review all bank reconciliations, review all invoices and deposits, and sign all checks.

AUDITORS’ OPINION

Our auditors state the Regional Office of Education # 43’s financial statements as of June 30, 2002 are fairly presented in all material respects.

 

_____________________________________

WILLIAM G. HOLLAND, Auditor General

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SPECIAL ASSISTANT AUDITORS

Our special assistant auditors were Ginoli & Company LTD.