Finding Text
Documentation of Monthly Reconciliation Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Aid Cluster Assistance Listing Number: 84.063 Federal Award Identification Number and Year: N/A Award Period: July 1, 2024 – June 30, 2025 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.300(b)(5) requires the District, on a monthly basis, to reconcile the institutional records with the Pell funds received from the Secretary and the Pell disbursement records submitted to and accepted by the Secretary. Condition: During our audit we noted the District does not maintain documentation of the preparation and review of this reconciliation process. Questioned costs: None Context: Although the reconciliation is being performed, there is no documentation of the preparation and review of the reconciliation. Cause: There was turnover in a key position during the year. Effect: The District is not complying with internal policy and federal requirements. Repeat Finding: No Recommendation: We recommend the District establish policies and procedures to ensure proper documentation of preparation and review of monthly Title IV reconciliations. Views of responsible officials: There is no disagreement with the audit finding.