Recommendation We recommend the College strengthen controls to ensure future FISAP reports are submitted timely. Management Response Corrective Action To ensure timely submission of the Fiscal Operations Report and Application to Participate (FISAP) in future reporting cycles, the College will implement the following corrective measures: 1) Establish a Regulatory Compliance Calendar a. A centralized compliance calendar will be developed and maintained by the Business Office in coordination with Financial Aid. The calendar will include all federal and state reporting deadlines, including the FISAP, with automated reminders set at 90, 60, and 30 days prior to each deadline. 2) Formal Assignment of Responsibility a. The Director of Financial Aid will be designated as the primary responsible party for preparation and submission of the FISAP. A secondary backup (Controller or Business Office designee) will be assigned to ensure continuity and oversight. 3) Written Procedures Update a. The Financial Aid Procedures Manual will be updated to include documented steps, internal timelines, required data sources, reconciliation processes, and final submission verification procedures for FISAP completion. 4) Supervisory Review and Certification a. Prior to submission, the Vice President for Business and Finance will receive written confirmation of completion and submission to ensure executive level oversight. 5) Cross-Training a. Annual cross training between Financial Aid and Business Office staff will be conducted to strengthen institutional knowledge and reduce dependency on a single individual. Implementation Timeline: Compliance calendar implemented within 30 days Written procedures updated within 60 days Cross training completed prior to next FISAP cycle Executive review process effective immediately Monitoring Timely submission will be verified annually and documented as part of the College’s internal controls review process. Due of Completion: July 1, 2026 Responsible Party(ies) Vice President for Business and Finance, Dean of Student Affairs