Core Issue: The Institution lacks sufficient procurement policies as required by federal regulations.
Impacted Requirements: Non-compliance with 2 C.F.R. 200.318 through 200.326 could lead to improper fund expenditures.
Recommended Follow-up: Develop and implement the necessary procurement policies to address the material weakness.
Finding Text
INSUFFICIENT PROCUREMENT POLICY
FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION
PROGRAM NAME: HEERF
ALN: 84.425
FEDERAL AWARD YEAR: 2021-2022
Compliance Requirement: Procurement and Suspension and Debarment (I.) Criteria: An Institution must have procurement policies that comply with the compliance requirements included in 2 C.F.R. 200.318 through 200.326. Condition: The Institution failed to implement all of the required procurement policies noted above. We consider this finding to be a material weakness.
Statistical sampling was not used when making sample selections.
Cause: The condition was caused by administrative oversight. Effect or Potential Effect: The result is that the Institution could be expending funds that do not meet the compliance requirements included in 2 C.F.R. 200.318 through 200.326.
Recommendation: We recommend the Institution develop and implement the required procurement policies. Views of Responsible Officials: The College agrees with the Single Audit Finding and a response is
included in the Corrective Action Plan.
Corrective Action Plan
Comments on Findings and Recommendations: Valor Christian College concurs with the finding and recommendations in the finding. Actions Taken or Planned: The Valor Christian College Finance Department and the Valor Christian College CFO have rewritten the institutional procurement policy to meet or exceed the institutional procurement policy attributes checklist.