FAC Explorer

Audit 385720

FY End
2025-08-31
Total Expended
$4.54M
Findings
1
Programs
7
Organization: Panola College (TX)
Year: 2025 Accepted: 2026-02-05
Auditor: ALEXANDER LANKFORD & HIERS INC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1172505 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
84.063 FEDERAL PELL GRANT PROGRAM $2.97M Yes 0
84.268 FEDERAL DIRECT STUDENT LOANS $900,542 Yes 1
84.048 CAREER AND TECHNICAL EDUCATION -- BASIC GRANTS TO STATES $275,780 Yes 0
84.002 ADULT EDUCATION - BASIC GRANTS TO STATES $125,191 Yes 0
84.033 FEDERAL WORK-STUDY PROGRAM $35,084 Yes 0
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $32,126 Yes 0
93.558 TEMPORARY ASSISTANCE FOR NEEDY FAMILIES $16,729 Yes 0

Contacts

Name Title Type
GCKPFYB8V683 Rachael Payne Auditee
9036932023 Susan Murrell Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal grant activity of the College. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the College, it is not intended to and does not represent the financial position, changes in net position, or cash flows of the College. Therefore, some amounts may differ from the amounts presented in, or used in the preparation of the financial statements.
Amounts reflected in the financial reports filed with grantor agencies for the programs and in the schedule of expenditures of federal awards may be different because of program year ends and accruals that will be reflected in the next report filed with the agencies.
See the Notes to the SEFA for chart/table.

Finding Details

Finding 2025-001
2025-001 Direct Loan Program – ALN 84.268; Grant Award No. P268K252297 Criteria: In 34 CFR section 668.165(a)(2), institutions are required to notify the student of the date and amount of loan disbursements credited to the student’s account, the right to cancel the loan, and the procedures and time by which the student must notify the institution that they wish to cancel within the timeframe noted in 34 CFR Section 668.165 (a)(3). Condition: The College did not provide the notifications required by 34 CFR section 668.165(a)(2). Context: As part of our audit procedures, we requested copies of the notifications sent to students selected as part of our testing. In response to our request, College personnel informed us that notifications of loan disbursements were not made. Cause and Effect: The College failed to notify the student when loan disbursements were credited to their student account. Students were not aware of when loans were applied to their accounts. While the College did provide notice of the right to cancel loans and the procedures required to notify the College if they wish to cancel the loan as part of the Financial Aid Offer letter for the 24-25 year, that letter was not always in the timeframe required. Recommendation: We recommend that the notifications required by 34 CFR section 668.165(a)(2) be made to students. Views of Responsible Officials and Planned Corrective Actions: We agree with this finding. The loan disbursement notifications were not possible in the POISE system due to how loans were applied to student accounts. As a result of the implementation of a new system that changed how aid is applied to student accounts, loan disbursement notifications have been sent out to students as required in Fall 2025.