Finding Text
Federal Program: Student Financial Aid Cluster – Significant Deficiency Federal Agency: Department of Education ALN Number: 84.063, 84.268, 84.033, 84.007 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 information on tuition and fees in the FISAP submitted to the Department of Education. Additionally, the College did not maintain records of supporting the Distribution of Program Recipients and Expenditures by Type of Student in Part VI, Program Summary for Award Year. Questioned Costs: None Cause: Employee turnover. Effect: The College did not operate in accordance with the special reporting compliance requirement. Recommendation: The College should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Grantee Comment: Refer to Corrective Action Plan