Finding Text
Finding 2023-003 - U. S. Department of Education (USDE). Title /Ill and TRIO Programs
(significant deficiency):
Information on the federal programs - Federal Title Ill Program, Strengthening Historically
Black Colleges and Universities, CFDA No. 84.0318, June 30, 2023, Student Aid and Fiscal
Responsibility Act (SAFRA), CFDA No. 84.0318, June 30, 2023, Upward Bound, CFDA No.
84.047A, June 30, 2023, Student Support Services, CFDA No. 84.042A, June 30, 2023.
Criteria - Federal regulations regarding cash management.
Condition - Non-compliances were noted as more fully described in the context below.
Context - The Federal Title Ill Program had excess cash of $868,391 at June 30, 2023. The
College also had excess cash of $85,212 in the Upward Bound Program and $226,381 in the
Student Support Services Program at June 30, 2023.
Cause - Prior year excess cash and mismanagement has not been repaid or resolved.
Effect- The College's participation in the Title 11a1n d TRIO Programs could be subject to USDE
sanctions as applicable.
Repeat Finding- Yes.
Auditor's Recommendation - We recommend the College limit the funds it draws down for
these programs in order to control and manage its cash better.
View of Responsible Officials - Management concurs with this finding. The College will
implement a plan to repay the excess cash in future years to eliminate the excess cash
balance.