Finding Text
Federal Program: Student Financial Aid Cluster – Significant Deficiency
Federal Agency: Department of Education
ALN Number: 84.007
Condition: The College drew down the full amount of funds authorized ($71,186), however its records report student
disbursements of $28,724. Additionally, the unspent drawdowns were not reported as deferred revenue as of June
30, 2023.
Questioned Costs: $42,462
Cause: Turnover in employee personnel administering the financial drawdowns.
Effect: The College did not operate in accordance with the cash management compliance requirement.
Recommendation: The College should develop procedures to ensure that compliance requirements can continue to
be met during periods of key employee turnover.
Views of Responsible Officials: Management agrees with this finding.