Finding Text
Assistance Listing Number, Federal Agency, and Program Name - 84.007, 84.033; U.S. Department of Education; Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Work-Study Program (FWS)
Federal Award Identification Number and Year - P007A236053, P033A236053; 2023-2024
Pass through Entity - N/A
Finding Type - Material weakness
Repeat Finding - No
Criteria - In accordance with 2 CFR 200.303, the College must establish and maintain effective internal controls over its federal awards in order to provide reasonable assurance that it is managing the federal awards in compliance with federal statutes, regulations, and the terms and conditions of the federal awards. Specific to these Title IV programs, 34 CFR 675.19(b)(3) (FWS) and 34 CFR 676.19(b)(3) (FSEOG) outline the requirement for institutions to submit a Fiscal Operations Report (FISAP).
Condition - There was a lack of internal controls in place related to the review of the FISAP that was submitted by the College in September 2023.
Questioned Costs - N/A
Identification of How Questioned Costs Were Computed - N/A
Context - Once the FISAP was prepared, there was no control in place ensure that the information included in the report was accurate.
Cause and Effect - A lack of review of the completed report prior to submission could lead to inaccurate information being reported to the U.S. Department of Education.
Recommendation - We recommend that the College implement a level of review of the report prior to submission.
Views of Responsible Officials and Planned Corrective Actions - The College will establish the proper controls to ensure that the information included in the FISAP is accurate, including implementing an additional level of review of the report.