Finding 1097604 (2024-003)

2024-003: Student Financial Aid Cluster – Reporting - Fiscal Operations Report and Application to Participate (FISAP) (Significant Deficiency) Assistance Listing Numbers and Titles: #84.077, Federal Supplemental Educational Opportunity Grants, and #84.033, Federal Work Study Program Federal Agency Name: U.S. Department of Education Pass-Through Entity Name (if applicable): N/A Award Number/Name: N/A Award Year: July 1, 2023 - June 30, 2024 Criteria: Per 34 CFR 673.3(a), to participate in the Federal Perkins Loan, Federal Work Study (FWS), or Federal Supplemental Educational Opportunity Grants (FSEOG) programs, an institution shall file an application before the deadline date established annually by the Secretary through publication of a notice in the Federal Register. Per 34 CFR 673.3(b), the application for the Federal Perkins Loan, FWS, and FSEOG programs must be on a form approved by the Secretary and must contain the information needed by the Secretary to determine the institution’s allocation or reallocation of funds under Sections 462, 442, and 413D of the HEA, respectively. Condition/context: During our testing and review of the College’s FISAP, we noted that the amount reported for Part II, Section E - Total Tuition and Fees for the award year from July 1, 2022 to June 30, 2023 was overstated by $189,992. Cause: The Student Financial Aid and Business Offices did not have controls in place to ensure accurate amounts were reported the FISAP. Effect: Errors on the FISAP report could result in the loss and/or miscalculation of future Federal funding. Questioned costs: None. Identification as a repeat finding: No. Recommendation: The Student Financial Aid and Business Offices should implement a system of controls related specifically to the supporting documentation utilized in the FISAP submission. Views of responsible officials and planned corrective action: Management concurs with the finding. See Exhibit I for the corrective action plan.