Finding 2025-002: Suspension and Debarment Finding: For two out of two vendors (100%) tested, the College did not provide sufficient documentation that a suspension and debarment check was performed prior to entering into a contract with the vendor. Cause: The College did not have controls in place to reasonably ensure compliance with suspension and debarment requirements of the Uniform Guidance. Corrective Actions Taken or Planned: As part of the procurement process review, a more robust policy will be developed related to vendor management. The policy will include specific definitions and limits for the types of transactions (non-procurement, procurement contracts, “covered transactions”). By October 31, 2025, the Business Office will communicate with all current PI’s an interim policy including the need for competitive bids, vendor screening, and more detailed descriptions. Contact Person Responsible: Doug MacKay, Controller Lake Forest College Completion Date: January 31, 2026