Finding 1147777 (2024-007)

Material Weakness
Requirement
C
Questioned Costs
-
Year
2024
Accepted
2025-07-15
Audit: 362285
Organization: Morris Colllege (SC)

AI Summary

  • Issue: Internal controls failed to ensure unspent funds were returned on time.
  • Trend: This led to the College accessing grant funds prematurely or delaying returns beyond allowed limits.
  • Recommendation: Strengthen internal controls to ensure timely return of unspent funds.

Finding Text

Internal controls were not sufficient to ensure unspent funds were returned in a timely fashion, resulting in the College drawing down grant funds before expenditures had been occurred or the time between the two being longer than allowed.

Categories

Internal Control / Segregation of Duties

Other Findings in this Audit

  • 571328 2024-006
    Significant Deficiency
  • 571329 2024-006
    Significant Deficiency
  • 571330 2024-006
    Significant Deficiency
  • 571331 2024-006
    Significant Deficiency
  • 571332 2024-007
    Material Weakness
  • 571333 2024-007
    Material Weakness
  • 571334 2024-007
    Material Weakness
  • 571335 2024-007
    Material Weakness
  • 571336 2024-007
    Material Weakness
  • 571337 2024-007
    Material Weakness
  • 571338 2024-007
    Material Weakness
  • 571339 2024-008
    Material Weakness Repeat
  • 571340 2024-008
    Material Weakness Repeat
  • 571341 2024-008
    Material Weakness Repeat
  • 571342 2024-008
    Material Weakness Repeat
  • 571343 2024-008
    Material Weakness Repeat
  • 571344 2024-009
    Material Weakness Repeat
  • 571345 2024-009
    Material Weakness Repeat
  • 571346 2024-009
    Material Weakness Repeat
  • 1147770 2024-006
    Significant Deficiency
  • 1147771 2024-006
    Significant Deficiency
  • 1147772 2024-006
    Significant Deficiency
  • 1147773 2024-006
    Significant Deficiency
  • 1147774 2024-007
    Material Weakness
  • 1147775 2024-007
    Material Weakness
  • 1147776 2024-007
    Material Weakness
  • 1147778 2024-007
    Material Weakness
  • 1147779 2024-007
    Material Weakness
  • 1147780 2024-007
    Material Weakness
  • 1147781 2024-008
    Material Weakness Repeat
  • 1147782 2024-008
    Material Weakness Repeat
  • 1147783 2024-008
    Material Weakness Repeat
  • 1147784 2024-008
    Material Weakness Repeat
  • 1147785 2024-008
    Material Weakness Repeat
  • 1147786 2024-009
    Material Weakness Repeat
  • 1147787 2024-009
    Material Weakness Repeat
  • 1147788 2024-009
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $2.59M
84.063 Federal Pell Grant Program $2.32M
84.031 Higher Education Institutional Aid $863,046
84.047 Trio Upward Bound $496,462
81.137 Minority Economic Impact $352,365
84.042 Trio Student Support Services $314,974
84.007 Federal Supplemental Educational Opportunity Grants $304,288
84.425 Education Stabilization Fund $250,648
84.033 Federal Work-Study Program $81,835
81.123 National Nuclear Security Administration (nnsa) Minority Serving Institutions (msi) Program $18,867