Finding Text
Significant Deficiency – Special Reporting
Program: Student Financial Aid Cluster
Assistance Listing Number: 84.268, 84.063, 84.003, 84.007
Federal Agency: U.S. Department of Education
Federal Award Year: June 30, 2024
Criteria: The College is required to submit the Fiscal Operations Report and Application to Participate (FISAP) annually to receive funds for the campus-based programs.
Condition: The College incorrectly reported the authorized Federal Supplemental Educational Opportunity Grant and information on tuition and fees in the FISAP submitted to the Department of Education. Additionally, the College incorrectly reported total tuition and fees on the FISAP.
Questioned Costs: None
Cause: The FISAP was not reconciled to the College’s internal records prior to submission due to staffing turnovers and delays in producing the financial statements.
Effect: The College did not operate in accordance with the special reporting compliance requirement.
Identification of Repeat Finding: This is not a repeat finding
Recommendation: The College should ensure that the year-end closing process is completed timely and require a sign-off from the CFO or controller of financial statement metrics reported on the FISAP prior to submission.
Views of Responsible Officials: Management agrees with this finding.