Finding Text
Assistance Listing, Federal Agency, and Program Name Student Financial Assistance Cluster Federal Direct Student Loans Program (ALN 84.268), Federal Work Study Program (ALN 84.033), Federal Supplemental Educational Opportunity Grant Program (ALN 84.007), and Federal Pell Grant Program (ALN 84.063)
Federal Award Identification Number and Year Various
Pass through Entity None
Finding Type Significant deficiency
Repeat Finding No
Criteria If an instutiton enters into a Tier one arrangement with a third party servicer as defined in CFR 668.164(e)(1), the institution must provide to the Secretary an up to date URL for the contract and contract data as described in paragraph (e)(2)(vii) of this section for publication in a centralized database accessible to the public.
Condition Colleges are required to disclose the arrangement on their website as well as other disclosure requirements outlined in 34 CFR 668.164. The school did not provide a URL for the contracts or cost information of its Tier One provider to the Department of Education for publication in the Cash Management Contracts Database.
Questioned Costs None
Identification of How Questioned Costs Were Computed None
Context The College did not provide a URL for the contracts or cost information of its Tier One provider to the Department of Education for publication in the Cash Management Contracts Database.
Cause and Effect A control was lacking to ensure the URL for the contract of its Tier One Provider was published in the Cash Management Contracts Database.
Recommendation We recommend a control be implemented to ensure new contracts or cost information are published in the Cash Management Contracts Database.
Views of Responsible Officials and Planned Corrective Actions Annually update the college website with contract and/or cost information regarding the third-party provider. Provide contract information URL to ED for publication in the Cash Management Contracts Database