Finding Text
Federal Agency: Department of Education
Federal Program Title: Student Financial Assistance Cluster
ALN Numbers: Various
Award Period: June 1, 2023 through May 31, 2024
Type of Finding:
• Significant Deficiency in Internal Control Over Compliance
• Other Matters
Criteria or Specific Requirement: The 2 CFR Section 200.303 requires that nonfederal entities receiving federal awards establish and maintain internal controls designed to reasonably ensure compliance with Federal Statues, regulations, and the term and conditions of the federal awards.
Condition: During our testing of Return of Title IV Funds (R2T4), federal loan reconciliations, and award packaging, we noted there was not a review process implemented.
Questioned Costs: None.
Context: During our testing, it was noted the College does not have a process in place to ensure controls are being performed effectively.
Cause: The College did not have a process in place to ensure controls implemented are being performed effectively
Effect: There is no way to determine who was involved in the process should an error be present.
Repeat Finding: No
Recommendation: We recommend the College reevaluate its procedures and review policies surrounding controls implemented for Title IV Aid.
Views of Responsible Officials: There is no disagreement with the audit finding.