Finding 1096138 (2024-004)

Significant Deficiency
Requirement
C
Questioned Costs
-
Year
2024
Accepted
2025-01-17

AI Summary

  • Core Issue: The College lacks a written cash management policy for federal payments, leading to significant deficiencies in compliance.
  • Impacted Requirements: This finding violates 2 CFR 200.302(b)(6), which mandates written procedures for cash management related to federal awards.
  • Recommended Follow-Up: The College should create and implement a written cash management policy to ensure compliance and establish necessary controls.

Finding Text

Assistance Listing Number, Federal Agency, and Program Name - 84.007, 84.033, 84.063, 84.268; U.S. Department of Education; Federal Supplemental Educational Opportunity Grants, Federal Work-Study Program, Federal Pell Grant Program, Federal Direct Student Loans Federal Award Identification Number and Year - P007A236053, P033A236053, P063P232857, P268K242857; 2023-2024 Pass-through Entity - N/A Finding Type - Significant deficiency Repeat Finding - No Criteria - In accordance with 2 CFR 200.302(b)(6), the College must establish written procedures to implement the requirements of 200.305 (federal payment), which outlines cash management requirements. Condition - As the College does not have a written cash management policy related to federal payments/awards, there was a lack of internal controls in place to ensure that this compliance requirement is met. Questioned Costs - N/A Identification of How Questioned Costs Were Computed - N/A Context - The College does not have a written cash management policy related to federal payments/awards. Cause and Effect - As there is no control established to ensure this written policy is in place, the College is not in compliance with 2 CFR 200.302(b)(6). Recommendation - We recommend that the College establish a written cash management policy related to federal payments/awards and that controls are implemented to ensure that it is updated as necessary. Views of Responsible Officials and Planned Corrective Actions - In accordance with 2 CFR 200.302(b)(6), the College will establish a written cash management policy, including written procedures related to federal payments/awards, in order to implement the requirements of 200.305.

Categories

Student Financial Aid Subrecipient Monitoring Cash Management Significant Deficiency Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 519690 2024-002
    Material Weakness
  • 519691 2024-002
    Material Weakness
  • 519692 2024-002
    Material Weakness
  • 519693 2024-003
    Material Weakness
  • 519694 2024-003
    Material Weakness
  • 519695 2024-004
    Significant Deficiency
  • 519696 2024-004
    Significant Deficiency
  • 519697 2024-004
    Significant Deficiency
  • 519698 2024-004
    Significant Deficiency
  • 1096132 2024-002
    Material Weakness
  • 1096133 2024-002
    Material Weakness
  • 1096134 2024-002
    Material Weakness
  • 1096135 2024-003
    Material Weakness
  • 1096136 2024-003
    Material Weakness
  • 1096137 2024-004
    Significant Deficiency
  • 1096139 2024-004
    Significant Deficiency
  • 1096140 2024-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $5.06M
84.268 Federal Direct Student Loans $5.00M
84.048 Career and Technical Education -- Basic Grants to States $177,831
84.007 Federal Supplemental Educational Opportunity Grants $177,669
17.261 Workforce Data Quality Initiative (wdqi) $143,536
59.037 Small Business Development Centers $123,198
14.218 Community Development Block Grants/entitlement Grants $95,000
84.033 Federal Work-Study Program $61,010
93.575 Child Care and Development Block Grant $51,630
10.684 International Forestry Programs $36,938