REPORT DIGEST

REGIONAL OFFICE OF EDUCATION #53:
MASON, TAZEWELL AND WOODFORD COUNTIES

FINANCIAL AUDIT
FOR THE YEAR ENDED JUNE 30, 2022

Release Date:  February 8, 2023

FINDINGS THIS AUDIT:  1

CATEGORY:  NEW -- REPEAT – TOTAL
Category 1:  0 -- 0 -- 0
Category 2:  1 -- 0 -- 1
Category 3:  0 -- 0 -- 0
TOTAL:  1 -- 0 -- 1

FINDINGS LAST AUDIT: 1

Category 1: Findings that are material
weaknesses in internal control and/or
a qualification on compliance with
State laws and regulations (material
noncompliance).
Category 2: Findings that are
significant deficiencies in internal
control and noncompliance with State
laws and regulations.
Category 3: Findings that have no
internal control issues but are in
noncompliance with State laws and
regulations.

State of Illinois, Office of the
Auditor General
FRANK J. MAUTINO, AUDITOR GENERAL

To obtain a copy of the Report
contact:
Office of the Auditor General, Iles
Park Plaza, 740 E. Ash Street,
Springfield, IL 62703
(217) 782-6046 or TTY (888) 261-2887

This Report Digest and Full Report are
also available on the worldwide web at
www.auditor.illinois.gov

SYNOPSIS

• (22-1) The Regional Office of
Education #53 lacked adequate controls
over the bank reconciliation process.

FINDINGS, CONCLUSIONS, AND
RECOMMENDATIONS

INADEQUATE CONTROLS OVER BANK
RECONCILIATION PROCESS

The Regional Office of Education #53
(ROE) lacked adequate controls over
the bank reconciliation process. The
ROE maintained 5 bank accounts. During
the audit, auditors noted 4 of 60
monthly reconciliations (7%) were
performed later than the end of the
following month.

Effective internal control policies
require complete and accurate
accounting records of all transactions
of the entity. Sound internal controls
require bank reconciliations to be
performed accurately and promptly, no
later than the end of the following
month. Reconciling items should be
investigated immediately, and
adjustments made to the general
ledger. Bank reconciliations should
also be reviewed and approved by a
person independent of the preparer in
a timely manner.

Regional Office officials indicated
bank reconciliations were performed
later than the end of the following
month due to staff turnover and
competing priorities. (Finding 22-001,
page 11)

The auditors recommended the ROE
should prepare monthly bank
reconciliations no later than the end
of the following month.

ROE Response: The Regional Office of
Education No. 53 will prepare monthly
bank reconciliations no later than the
end of the following month.

AUDITORS’ OPINION

Our auditors state the Regional Office
of Education #53’s financial
statements as of June 30, 2022 are
fairly presented in all material
respects.

This financial audit was conducted by
the firm of Adelfia LLC.
JOE BUTCHER
Division Director

This report is transmitted in
accordance with Section 3-14 of the
Illinois State Auditing Act.

FRANK J. MAUTINO
Auditor General

FJM:JRB