Finding 2025-003 Student Financial Aid Cluster, CFDA # 84.063, 84.268 Condition: The College did not report the actual disbursement date that students receive the Direct Loan and/or Pell Funds to the COD system Corrective Action Plan: Objective: To ensure the Financial Aid office reports the actual disbursement date the student receives the Direct Loan and/or Pell funds to the COD system. Corrective Actions: Management concurs with this finding. The College acknowledges that disbursement dates reported to COD reflected submission dates rather than actual student disbursement dates, resulting in inconsistencies. Corrective actions implemented as follows: 1. Definition Standardization 2. System Configuration & Process Update 1. Actual disbursement dates are captured at the transaction level 2. Data feeds into COD accurately once Financial Aid is converted to Ellucian 3. Reconciliation Controls 1. Monthly reconciliation between: 1. Student account ledger 2. COD system records 4. Quality Assurance Reviews 1. Supervisor approval required prior to COD reporting Timeline: Process corrections implemented in Fall 2025; Full compliance expected by June 30, 2026 Person(s) Responsible for Corrective Action Plan: Anahi Huerta, Director of Financial Aid, Phone: 312-922-1884