Corrective Action Plans

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2024-002 – Special Tests and Provisions (repeat of Finding 2023-002) Corrective action planned: Management will implement a series of corrective actions to address the findings to ensure consistent application of sliding fee discount. Actions to be taken are as follows: * Review of the sliding fee a...
2024-002 – Special Tests and Provisions (repeat of Finding 2023-002) Corrective action planned: Management will implement a series of corrective actions to address the findings to ensure consistent application of sliding fee discount. Actions to be taken are as follows: * Review of the sliding fee application to facilitate data collection for sliding fee discount program. * Implement a self-declaration or attestation for patients who cannot provide proof of income * Comprehensive training on the sliding fee program for all relevant staff * Implement monthly internal audits for sliding fee claims and provide feedback to staff based on findings and observations. Anticipated Completion Date: June 2025 Person Responsible for Corrective Action: Elizabeth David, CFO
Action planned/taken in response to finding: Management remains cognizant of the internal control structure and continues to evaluate cost effective opportunities for further improvement. Name(s) of the contact person(s) responsible for correction action: Mike Koltes, Business Services Director Pl...
Action planned/taken in response to finding: Management remains cognizant of the internal control structure and continues to evaluate cost effective opportunities for further improvement. Name(s) of the contact person(s) responsible for correction action: Mike Koltes, Business Services Director Planned completion date for corrective action: Ongoing
An action plan has been made in conjunction with IT to ensure more timely and accurate notifications of student schedule changes/withdrawals and processing of required adjustments to aid. We will be implementing a more automatic process that will assist with the work flow and efficiency of these pro...
An action plan has been made in conjunction with IT to ensure more timely and accurate notifications of student schedule changes/withdrawals and processing of required adjustments to aid. We will be implementing a more automatic process that will assist with the work flow and efficiency of these processes.
The University will strengthen internal controls and monitoring processes to ensure compliance with Title IV credit balance regulations. Specific corrective actions include: 1. Implementing a weekly audit of credit balances within the student financial system to identify and initiate refund process ...
The University will strengthen internal controls and monitoring processes to ensure compliance with Title IV credit balance regulations. Specific corrective actions include: 1. Implementing a weekly audit of credit balances within the student financial system to identify and initiate refund process when a Title IV credit balance exceeds the allowable time frame. 2. Providing and accessing additional training to financial aid and student accounts personnel on Title IV regulations regarding credit balances and timely refunds. 3. Establishing a formalized procedure for escalating unresolved balances to senior financial administrators for immediate corrective action.
View Audit 351424 Questioned Costs: $1
Corrective Action The improper activity was identified in October 2023 and the following actions were subsequently taken: • Two caseworks and a supervisor were terminated. • The agency's Executive Director retired. • The agency's Controller was temporarily elevated to Interim Administrator, overseei...
Corrective Action The improper activity was identified in October 2023 and the following actions were subsequently taken: • Two caseworks and a supervisor were terminated. • The agency's Executive Director retired. • The agency's Controller was temporarily elevated to Interim Administrator, overseeing day-to-day operations and reviewing all agency disbursements. • The central accounting department revised the check processing procedures to ensure that the following documentation accompanied housing related check requests: o W-9 signed by the vendor o A signed Promissory Agreement from the client, landlord and caseworker if the agency is paying Rent/Sec Dep. o Proof of Ownership for the property (Deed, Tax bill, NJ Parcels website) documentation. The Proof of Ownership documentation must match the W-9. Management has taken steps to ensure that the rental properties for which assistance will be rendered are in fact owned by the landlord stated on the lease. o Copy of an executed rental lease. o Rent Ledger, or a letter from the Landlord on their letterhead detailing client past and overdue charges/payments. Should include dates, amounts, etc. o Proof of Hardship - case management notes detailing hardship are sufficient for the Accounting Dept, although not necessarily sufficient for the requirement of the grant. • Policy changes with regard to check distribution have been modified. All checks are mailed directly to the vendor/payee from the central accounting department. • Two supervisors replaced the one terminated supervisor in order to ease the amount of supervision duties tasked to one person. • A new Executive Director for the Organization was hired in February 2024. • Created and filled the position of Grants Compliance Specialist. This position is responsible to: o Review, revise and create, where needed, policies/procedures to ensure that 0MB Uniform Administrative Requirements are being considered and followed in the administering of all grant funding. o Responsible for regularly reviewing client files on a judgmental basis in order to ensure adherence to the agency's policies and procedures. • Mandated the universal use of ETO Case Management Solution as the soul repository of client information, case notes with a link to electronic client documentation files on the agency network. This provides electronic access to client case files as well as an electronic audit trail. Projected Completion Date As mentioned, the actions note above have been implemented. Management and the Grant Compliance Specialist continue to review, modify and communicate policies/procedures with all case management staff. Contact Person Robert Waite, Controller 856-342-4186; robert.waite@camdendiocese.org If you have questions or concerns regarding this Plan, please reach out to Robert Waite, Controller using the phone number or email address above. Robert T Waite, Controller
View Audit 351413 Questioned Costs: $1
Finding 547016 (2024-001)
Significant Deficiency 2024
Audit Finding Reference: 2024-001 Improve Internal Controls Over Reporting Planned Corrective Action: All future ARPA reporting will be derived from quarterly trial balances generated from the accounting department staff. The trial balances will then be reviewed and entered into the reporting por...
Audit Finding Reference: 2024-001 Improve Internal Controls Over Reporting Planned Corrective Action: All future ARPA reporting will be derived from quarterly trial balances generated from the accounting department staff. The trial balances will then be reviewed and entered into the reporting portal by the Finance Director. Any variances or adjustments that are necessary from the Trial balance will be clearly documented for reconciliation and confirmed by the City Auditor as accurate. Upon confirmation, the Finance Director will submit the report. Planned Implementation Date of Corrective Action: Quarter 1, 2025 report (due by April 30th, 2025) Person Responsible for Corrective Action: City Auditor Finance Director
To address the increase in the Organization’s activities under this program, the Certified Management Accountant of Weavers Way Community Fund, Inc. will send a performance report to the Department of Housing and Urban Development.
To address the increase in the Organization’s activities under this program, the Certified Management Accountant of Weavers Way Community Fund, Inc. will send a performance report to the Department of Housing and Urban Development.
Reference number: 2024-001 Criteria or specific requirement: Office of Management and Budget (OMB) 2 CFR part 200, subpart E Corrective Action: The Superintendent Prong Tran, Director of Finance, Scott McRae and Operations Manager Vicki Jones will closely review all coding and ensure that all emplo...
Reference number: 2024-001 Criteria or specific requirement: Office of Management and Budget (OMB) 2 CFR part 200, subpart E Corrective Action: The Superintendent Prong Tran, Director of Finance, Scott McRae and Operations Manager Vicki Jones will closely review all coding and ensure that all employees are coded correctly according to funds, salary schedules and the correct calendars. Contact Person: Scott McCrae and Vicki Jones Anticipated Completion Date: June 30, 2025
View Audit 351398 Questioned Costs: $1
2024-003 Finding 1. Correcting Plan The District will file each employee’s approved wage rate in their respective personnel file. 2. Explanation of Disagreement with the Audit Findings There is essentially no disagreement with the finding. 3. Official Responsible for Insuring CAP The Superintendent,...
2024-003 Finding 1. Correcting Plan The District will file each employee’s approved wage rate in their respective personnel file. 2. Explanation of Disagreement with the Audit Findings There is essentially no disagreement with the finding. 3. Official Responsible for Insuring CAP The Superintendent, Todd Selk, is responsible for carrying out the corrective action plan. 4. Planned Completion Date for CAP The District will implement November 1, 2024 5. Plan to Monitor Completion of CAP The superintendent will monitor completion of the CAP.
Northern Tier Community Action Corporation concurs with the audit finding. The Organization did not maintain all client information in accordance with the requirements set forth by the grantor Agency. The Weatherization Department of the Organization had employee turnover in the 2023/2024 Fiscal Y...
Northern Tier Community Action Corporation concurs with the audit finding. The Organization did not maintain all client information in accordance with the requirements set forth by the grantor Agency. The Weatherization Department of the Organization had employee turnover in the 2023/2024 Fiscal Year including the Director of Weatherization, which caused a disruption in maintain client files. The Organization has reviewed the current system for maintaining files and identified any gaps in compliance with the grantor Agency requirement. The Organization then developed and implemented controls for maintaining client files that align with the grantor Agency’s requirements and provided training to all relevant personnel. This will ensure that the Organization is in compliance with all guidelines set forth by the grantor Agency. Northern Tier Community Action Corporation has implemented the above controls as of the report date.
Management will be reviewing all payroll contracts once entered in the accounting software. This will ensure that all costs are classified to the correct funds and allowable under the federal awards.
Management will be reviewing all payroll contracts once entered in the accounting software. This will ensure that all costs are classified to the correct funds and allowable under the federal awards.
Action taken in response to finding: Program managers will continue working to ensure that all FAFTA forms are appropriately reported in SAM.gov Name(s) of the contact person(s) responsible for corrective action: Sharon Cullins, Community Development Planner, and Lara Kritzer, Director of Housing a...
Action taken in response to finding: Program managers will continue working to ensure that all FAFTA forms are appropriately reported in SAM.gov Name(s) of the contact person(s) responsible for corrective action: Sharon Cullins, Community Development Planner, and Lara Kritzer, Director of Housing and Community Development. Planned completion date for corrective action plan: This will be implemented immediately.
Action taken in response to finding: The September 2023 claiming error was caused in part by the Food Service Management Company manually entering the claims in the DESE Portal incorrectly. Newton took responsibility for entering the claims for the balance of FY24. For FY25, Newton now uploads the...
Action taken in response to finding: The September 2023 claiming error was caused in part by the Food Service Management Company manually entering the claims in the DESE Portal incorrectly. Newton took responsibility for entering the claims for the balance of FY24. For FY25, Newton now uploads the meal count data from Mosaic, the point-of-sale software, directly into the DESE portal. That upload is done by the Business Operations Analyst and then approved by the Director of Business Operations, which removes substantial exposure for human error during data entry and creates two levels of review prior to approval and submission. The other five discrepancies between the source counts and what was submitted for the DESE claim was to address identified human error in advance to ensure that the monthly claim was accurate. For the September 2023 error, Newton has submitted a Claim Adjustment Form to DESE to provide guidance for the necessary action steps. Name(s) of the contact person(s) responsible for corrective action: Amy Mistrot, NPS Director of Business Operations. Planned completion date for corrective action plan: The internal controls to reduce data entry errors have been implemented and are consistently being used. DESE will provide guidance for the Claim Adjustment Request to address the September 2023 error, which Newton will then implement.
View Audit 351352 Questioned Costs: $1
Oversight of Internal Controls - Completeness and Existence of Federal Expenditures Type of Finding: Material Weakness in Internal Control over Financial Reporting/ Compliance • Contact Person Responsible: Frank Antuono, Business Manager • Corrective Action to be Taken: The District will implement a...
Oversight of Internal Controls - Completeness and Existence of Federal Expenditures Type of Finding: Material Weakness in Internal Control over Financial Reporting/ Compliance • Contact Person Responsible: Frank Antuono, Business Manager • Corrective Action to be Taken: The District will implement a centralized, documented review process for all federal expenditure tracking. To address turnover-related gaps and avoid data inconsistency: o Internally prepared spreadsheets will be reconciled monthly and locked once reviewed o All federal award-related spreadsheets will be reviewed by a staff member other than the preparer o Changes to prior-year data will require approval and documentation o A documented checklist will be used for month-end reconciliations. Additionally, the Business Manager will oversee staff training on federal compliance requirements related to documentation and review processes.
Preparation of Schedule of Expenditures of Federal Awards Type of Finding: Material Weakness in Internal Control over Financial Reporting/ Compliance • Contact Person Responsible: Frank Antuono, Business Manager • Corrective Action to be Taken: The District will establish formal written policies and...
Preparation of Schedule of Expenditures of Federal Awards Type of Finding: Material Weakness in Internal Control over Financial Reporting/ Compliance • Contact Person Responsible: Frank Antuono, Business Manager • Corrective Action to be Taken: The District will establish formal written policies and procedures for the preparation of the Schedule of Expenditures of Federal Awards (SEFA) in compliance with 2 CFR 200.51 0(a). These procedures will: o Identify all sources of federal revenue o We have added the assigned federal funding source codes to our district budget operation in CSIU, which will now allow us to track these expenditures back to our internally controlled spreadsheets as verification of expenditures. o Track expenditures using dedicated account codes in the general ledger o Assign responsibility for monthly reconciliation and schedule preparation o Include a secondary review of the SEFA by someone other than the preparer The Business Office will undergo training on SEFA requirements and reconciliation practices. These changes will ensure complete and accurate reporting of federal expenditures for all future reporting periods.
Finding 546965 (2024-003)
Significant Deficiency 2024
Enrollment information was not submitted accurately or within the required timeframe by the University. Personnel Responsible for Corrective Action: Margaret Herron, Registrar. Anticipated Completion Date: Corrective action plan will be implemented by June 30, 2025. Corrective Action Plan: Managemen...
Enrollment information was not submitted accurately or within the required timeframe by the University. Personnel Responsible for Corrective Action: Margaret Herron, Registrar. Anticipated Completion Date: Corrective action plan will be implemented by June 30, 2025. Corrective Action Plan: Management has provided training and the financial aid department will make regular updates to NSLDS on a monthly basis to ensure student information is reported accurately and timely.
Finding Number: 2024-001 Condition: The Organization failed to submit monthly reimbursement requests to the Hebrew Immigrant Aid Society by their due dates during the year ended June 30, 2024. Planned Corrective Action: The Organization has implemented system and process improvements to ensure tim...
Finding Number: 2024-001 Condition: The Organization failed to submit monthly reimbursement requests to the Hebrew Immigrant Aid Society by their due dates during the year ended June 30, 2024. Planned Corrective Action: The Organization has implemented system and process improvements to ensure timely submission. The Organization has and will continue to maintain appropriate staffing level and sufficient training to ensure timely submission. This plan does not account for circumstances beyond JFS’s control such as timing of funding approval from the grantor. Non-controllable delays will be documented by JFS and reports submitted in a reasonable amount of time following approval. Contact Person Responsible for Corrective Action: Justin Fisher, Director of Accounting Anticipated Completion Date: April 30, 2025
Finding 2024-006 – Allowable Costs/Cost Principles Name of Contact Person: Darla Hawkins, City Treasurer, City of Sheridan, Wyoming Corrective Action Plan: With recent personnel changes, project managers with adequate knowledge of allowable costs are responsible for tracking all costs. In collabor...
Finding 2024-006 – Allowable Costs/Cost Principles Name of Contact Person: Darla Hawkins, City Treasurer, City of Sheridan, Wyoming Corrective Action Plan: With recent personnel changes, project managers with adequate knowledge of allowable costs are responsible for tracking all costs. In collaboration with the Treasury Department, new internal controls have been implemented, ensuring clear and effective tracking methods are maintained and practiced regularly. Proposed Completion Date: June 30, 2025
View Audit 351336 Questioned Costs: $1
Finding 546954 (2024-002)
Significant Deficiency 2024
Federal Eligibility Recommendation: We recommend that during the financial aid package review, additional procedures are put in place to ensure that student awards are appropriately calculated. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action...
Federal Eligibility Recommendation: We recommend that during the financial aid package review, additional procedures are put in place to ensure that student awards are appropriately calculated. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to the finding: The employee who committed the errors is no longer employed by Furman University. Based on federal regulations, citied in “Correcting Direct Subsidized Loan or Direct Unsubsidized Loan awarding errors” in Volume 8, Chapter 3 of the FSA Handbook: “If you discover that a student received Direct Subsidized Loan funds in excess of financial need after the student is no longer enrolled for the loan period, you are not required to take any action to eliminate the excess subsidized loan amount.” Furman University will continue to conduct regular training sessions for all financial aid counselors. These sessions focus on the latest federal and state regulations, including updates to Title IV guidelines, eligibility criteria, and documentation requirements. This ongoing training is crucial for maintaining our counselors' knowledge and effectiveness in managing financial aid processes. Furman University will perform an internal audit sample each month in conjunction with the completion of monthly reconciliations to ensure compliance with subsidized loans. Furthermore, all financial aid counselors are required to complete the “FSA Coach” training, an online resource provided by Federal Student Aid. This tool enhances their understanding of federal guidelines and best practices. To ensure future compliance, the Director of Financial Aid will conduct periodic internal audits. These audits will include a review of student files, application processes, and disbursement procedures to verify adherence to regulatory requirements. Additionally, the Director of Financial Aid will collaborate with a PowerFaids software consultant to explore the feasibility of generating specific reports that can monitor potential over awards of need-based aid. This proactive approach will help us identify and address any discrepancies promptly. Name(s) of the contact person(s) responsible for corrective action: Andrea Byrd Planned completion date for corrective action plan: 12/01/2024
View Audit 351333 Questioned Costs: $1
Corrective Action Plan: 1. Enhanced Review Process o A biweekly reconciliation process is implemented where payroll charges are compared against the certified time and effort reports before submission for posting of grant funded payroll (updated Standard Operating Process on record). o The Grant Acc...
Corrective Action Plan: 1. Enhanced Review Process o A biweekly reconciliation process is implemented where payroll charges are compared against the certified time and effort reports before submission for posting of grant funded payroll (updated Standard Operating Process on record). o The Grant Accountant will conduct a review to verify allocations align with the time and effort reports. o The Director of Grants Management will conduct a second review of the allocations to verify that allocations align with the time and effort reports before the report is sent to the Business Office for posting in the accounting system. 2. Monitoring and Compliance Checks o The Grants Management office will conduct quarterly internal audits of grant payroll allocations to verify compliance with grant requirements. By implementing these corrective actions, the College ensures that grant funded personnel profiles and associated expenses are accurately recorded to federal grant programs and prevent similar errors in the future. Timeline for Implementation of Corrective Action Plan: Implementation of the biweekly reconciliation process was completed in February 2025. Contact Person Agnes Simon, Senior Director of Grants Management
View Audit 351324 Questioned Costs: $1
Finding Number: 2024‐001 Program Name/Assistance Listing Title: Education Stabilization Fund Assistance Listing Numbers: 84.425U Contact Person: Talise Berry, Executive Director of Business Services & Technology Anticipated Completion Date: December 31, 2024 Planned Corrective Action: The Wil...
Finding Number: 2024‐001 Program Name/Assistance Listing Title: Education Stabilization Fund Assistance Listing Numbers: 84.425U Contact Person: Talise Berry, Executive Director of Business Services & Technology Anticipated Completion Date: December 31, 2024 Planned Corrective Action: The Wilson School District acknowledges that Davis‐Bacon requirements apply to our construction contracts. However, prior to the single audit of FY23, for over a decade of contracting services with our auditors, we had not been asked to provide certification of compliance with federal regulations requiring us to obtain payroll journal details from vendors for payments made to their staff working on our projects. Moving forward, we will ensure full compliance by consistently requesting and maintaining these records for all future projects. Additionally, when utilizing a cooperative purchasing (coop) process, we will rigorously follow this compliance procedure to support school districts and fully adhere to all required regulations.
Corrective Action The Urban College of Boston (UCB) agrees with this finding, and upon its review of the affected students and the college’s policies and procedures, has determine the errors are reflective of a knowledge gap in the established process for returning unearned funds for a withdrawn stu...
Corrective Action The Urban College of Boston (UCB) agrees with this finding, and upon its review of the affected students and the college’s policies and procedures, has determine the errors are reflective of a knowledge gap in the established process for returning unearned funds for a withdrawn student. This was a process gap oversight. When Urban College of Boson (UCB) contracted with Global Financial Aid Services (Global FAS) effective for the 2023/2024 Award Year, the R2T4 return process is all done automated through a negative disbursement check register process. However, the funds that required Institutional Returns are a manual process and identified through a Refunds Due Report or as part of the students final Exit Packet Counseling documents. This report was missing as part of the workflow resulting in these students’ refunds being missed. The process has since been updated and the Director of Student Financial Services receives an automated Refunds Due Report (ineligible disbursement) every Monday. If there are students listed in the Refunds Due Report, this report is shared with the Business Office so funds can be returned based on amounts, funding type so they are processed timely. A secondary check point is also built into the process; If Urban has not returned the funds and 45 days from the students’ last date of attendance we will receive an automated notification from the Global Services system alerting us to the number of days we have left to make our returns. Since this issue was discovered the Director of Student Financial Services has gone back through all R2T4 student Exit Counseling packets to confirm that no other Institutional Returns were needed. No other issues were found. Timeline for Implementation of Corrective Action Plan: Although categorized as a repeat finding, Urban College considers this year’s issue an extension of the original finding from the 2023 audit period. This is because the corrective action plan addressing the initial finding was not implemented until April 2024, after the conclusion of the 2023 audit. Furthermore, all the students involved in this year’s finding were enrolled before the corrective action plan was rolled out in April 2024. Contact Person: Stacy Broadus, Director of Student Financial Services: Stacy.Broadus@urbancollege.edu
Corrective Action The Urban College of Boston (UCB) agrees with this finding, and upon its review of the affected student and the college’s policies and procedures, has determine the error was a result of an isolated event due to human error. This was an oversight on the part of the Director of Stud...
Corrective Action The Urban College of Boston (UCB) agrees with this finding, and upon its review of the affected student and the college’s policies and procedures, has determine the error was a result of an isolated event due to human error. This was an oversight on the part of the Director of Student Financial Services. When communicating with the Business Office on the amount of Pell funds to be returned for these students, the DSFS keyed in the wrong dollar amounts resulting in less funds being returned than should have been. Since this issue was discovered, our process has changed and to ensure the correct dollar amounts of returns are made, the DSFS receives an automated Refunds Due (ineligible disbursement) report each Monday morning and if students are listed based on R2T4 calculations, that report is then shared with our Business Office, so the exact dollars and funding sources are identified for returns. This prevents someone from needing to key in the amounts manually. The DSFS went back through all R2T4 packets to confirm that no other incorrect amounts were communicated so adjustments could be made if necessary. No other issues were found. Timeline for Implementation of Corrective Action Plan: Implementation of new processes effective April 1, 2024 Contact Person: Stacy Broadus, Director of Student Financial Services: Stacy.Broadus@urbancollege.edu
View Audit 351293 Questioned Costs: $1
Corrective Action The Urban College of Boston (UCB) agrees with this finding and upon its review of the affected students and the college’s policies and procedures, has determined the errors are reflective of a lack of understanding of procedures involved in the return of uncashed checks. In April ...
Corrective Action The Urban College of Boston (UCB) agrees with this finding and upon its review of the affected students and the college’s policies and procedures, has determined the errors are reflective of a lack of understanding of procedures involved in the return of uncashed checks. In April 2024 after the 2023 audit, we identified this as a missed practice in the Business Office procedures and because of the lack of understanding of the regulation, Business Office processes were created. Unfortunately, these 2023-2024 findings occurred prior to the implementation of this new process that was a result of the 2022-2023 audit. The Business Office leadership team reviews uncashed checks every 30 days as part of the ledger & billing reconciliation process to ensure these are addressed prior to the 240-day regulation. This process has been updated in the Business Office Cash Management operating procedure to ensure that UCB continues to meet the required timeline. Timeline for Implementation of Corrective Action Plan: Although categorized as a repeat finding, Urban College considers this year’s issue an extension of the original finding from the 2023 audit period. This is because the corrective action plan addressing the initial finding was not implemented until April 2024, after the conclusion of the 2023 audit. Furthermore, all the students involved in this year’s finding were enrolled before the corrective action plan was rolled out in April 2024. Contact Person: Stacy Broadus, Director of Student Financial Services: Stacy.Broadus@urbancollege.edu
View Audit 351293 Questioned Costs: $1
Corrective Action The Urban College of Boston (UCB) agrees with this finding, and upon its review of the affected students and the college’s policies and procedures, has determined the errors are reflective of weak procedures and lack of knowledge from our Business office of Title IV requirements in...
Corrective Action The Urban College of Boston (UCB) agrees with this finding, and upon its review of the affected students and the college’s policies and procedures, has determined the errors are reflective of weak procedures and lack of knowledge from our Business office of Title IV requirements involving the handling of Title IV credit balances. In April 2024 after the 2023 audit, we identified weaknesses in Title IV credit balance process. It was also discovered during the 2023 audit review that not all our Business Office employees understood the federal regulation on Title IV refunds and the 14-day rule. When processes were reviewed and updated, the financial aid and business office staff went through coaching and training. Unfortunately, these 2023-2024 credit balance findings occurred prior to the implementation of these new processes from the results of the 2022-2023 audit. Urban College of Boston (UCB) has contracted with Global Financial Aid Services (Global FAS) effective for the 2023/2024 Award Year. Process changes include Global FAS providing UCB with a daily check register report of all student disbursements. Through the Disbursement process, UCB must first process all check registers, reconcile student billing, and identify and process student credit balances before funds can be drawn down from the Common Origination and Disbursement System (COD). The UCB Business Office commits to processing check registers within 7 business days and providing the Cash Monitoring report to Global FAS so funds can be released and deposited into the Federal Funds Account. The Business Office also conducts a weekly credit balance review in the event adjustments were made to a student’s account that may have created a credit. These updated processes will ensure student refunds are processed within the 14-day federal regulation. The Director of Student Financial Services is also conducting a twice of month Balance Report review to identify any credit balances on students accounts to determine if they are within or outside of the 14 days and reporting back to the Chief Finance Officer if any discrepancies are discovered. Timeline for Implementation of Corrective Action Plan: Although categorized as a repeat finding, Urban College considers this year’s issue an extension of the original finding from the 2023 audit period. This is because the corrective action plan addressing the initial finding was not implemented until April 2024, after the conclusion of the 2023 audit. Furthermore, all the students involved in this year’s finding were enrolled before the corrective action plan was rolled out in April 2024. Contact Person: Stacy Broadus, Director of Student Financial Services: Stacy.Broadus@urbancollege.edu
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