Finding Text
Condition: The College did not return unearned Title IV funds within the minimum required timeframe. Criteria: Based on requirements set forth by 34 CFR 668.22(j)(1), the College is responsible for returning any unearned Title IV funds within required timeframes. Cause: Controls are not functioning properly. Context: From a population of 36 students we tested 8 students and noted 2 instances of Title IV funds not returned timely. Effect: Title IV funds were not returned timely to the Department of Education. Repeat Finding: No. Recommendation: We recommend that a review process be put in place to ensure timely return of funds to the Department of Education. Views of Responsible Officials: Written procedures will be created on or before May 31, 2026, to ensure the timely return of funds to the Department of Education. Such procedures will include coordination with the Registrar’s office related to this process.