Finding Text
Student Financial Assistance Program Cluster – Department of Education
Federal Financial Assistance Listing #84.063 Federal Pell Grant Program P063P222212, P063P232212
Federal Financial Assistance Listing #84.038 Federal Perkins Loans
Federal Financial Assistance Listing #84.007 Federal Supplemental Educational Opportunity Grants P007A223837, P007A233837
Reporting
Significant Deficiency in Internal Control over Compliance
Criteria: 34 CFR 673.3 requires institutions complete the Fiscal Operations Report and Application to Participate (FISAP) to participate in the Federal Work Study or Federal Supplemental Education Opportunity Grants. The Fiscal Operations Report includes the University’s financial information from the previous award year.
Condition: The amount reported for Cash on Hand as of 6/30/2023, line‐item Part II Section A Field Item 1.1, did not agree to supporting documentation.
Cause: The University had trouble reconciling Federal Perkins Loan Program activity reported within the Fiscal Operations Report.
Effect: Information reported within the FISAP over line item referenced above was inaccurate.
Questioned Costs: Cash on Hand of as of 6/30/2023 was under reported by $15,454.
Context/Sampling: Key line items within the FISAP report were tested as required by the OMB Compliance Supplement. No statistical sampling was performed.
Repeat Finding from Prior Years: No
Recommendation: The University should review their current process to ensure that line items reported are accurate.
Views of Responsible Officials: Management agrees with the finding.