Finding 1223561 (2025-002)

2025 – 002 Reporting of Aid Disbursements to Common Origination & Disbursement (COD) Federal Agencies: United States Department of Education Federal Program Title: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.SFA Award Period: 01/01/25-12/31/25 Type of Finding: Significant Deficiency in Internal Controls Over Compliance Criteria or Specific Requirement: The Student Financial Assistance cluster requires that there be documented procedures and controls in place to ensure timely and accurate COD (Common Origination and Disbursement) reporting. Institutions are required to ensure that disbursement records report the actual disbursement date and the amount of the disbursement. Condition: The disbursement date being reported by the College in COD did not match the actual disbursement date shown in student account detail reports for certain students attending the College. Questioned Costs: N/A Cause: The College did not have proper internal control procedures in place over COD reporting. Effects: Information contained in disbursement records reported to COD was not accurate. Repeat Finding: Not a repeat finding. Recommendation: Management should review and update internal control processes related to COD reporting. Views of Responsible Officials: Management agrees and has a plan to correct the finding.