Finding Text
Finding No. 2025-001 Identification of the Federal Program: Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Reporting Condition: The date of disbursement of federal funds per the College's records did not agree to date of disbursement reported to the Common Origination and Disbursement (“COD”) system. Criteria: Disbursement data reported to the COD system should agree to the institution's records. Cause: The College did not have all appropriate safeguards in place to ensure accurate reporting of disbursement data to the COD system. Context: The College transitioned to a new financial aid system during the 2024 fiscal year, but the process still requires manual updates, which lead to errors during the 2025 fiscal year. As a result, the College’s records did not support the disbursement data reported to the COD system for seven out of twenty-five sampled students. Effect: The College did not report disbursement data to the COD system accurately. Repeat Finding: This is a repeat finding from prior year, finding no. 2024-001. Recommendation: The College should continue to review the process for reporting under the financial aid system to ensure accurate reporting of disbursement data to the COD system, focusing on eliminating manual updates. Management Response: The College concurs with this finding. Corrective Action Plan: See enclosed management’s corrective action plan.