Finding Text
Finding number: 2025-004 Federal agency: U.S. Department of Education Programs: Student Financial Assistance Cluster Assistance listing #: 84.063 Award year: 2025 Compliance requirement: Cash Management and Reporting Criteria According to 34 CFR 690.83(b): (1) An institution shall report to the Secretary any change in the amount of a grant for which a student qualifies including any related Payment Data changes by submitting to the Secretary the student's Payment Data that discloses the basis and result of the change in award for each student. The institution shall submit the student's Payment Data reporting any change to the Secretary by the reporting deadlines published by the Secretary in the Federal Register. (2) An institution shall submit, in accordance with deadline dates established by the Secretary, through publication in the Federal Register, other reports and information the Secretary requires and shall comply with the procedures the Secretary finds necessary to ensure that the reports are correct. Condition Federal regulations require the College to report the Federal Government’s COD Federal Pell Grant and Direct Loan disbursements made to students. During our testing, we noted 1 student, out of a sample of 40, in which the disbursed date in the student account did not align with the disbursed date in the COD. Our sample was not, and was not intended to be, statistically valid. Cause The College did not have adequate internal controls in place to validate that the disbursement date per the student's account statement matched the disbursement date reported to COD. Effect The College did not report the correct disbursement date to the COD. Questioned Costs Not applicable. Identification as a Repeat Finding, if applicable Not applicable. Recommendation The College should implement internal control procedures to ensure that COD disbursement information matches the College's records. View of Responsible Officials The College agrees with the finding.