Finding Text
Criteria: Pursuant to Federal Register Volume 82, Number 122, an institution must submit Pell Grant disbursement records to the Common Origination and Disbursement (?COD?) system no later than 15 days after making the disbursement or becoming aware of the need to adjust a previously reported disbursement. As defined in 34 CFR 668.164(a), the disbursement date is the date that a school credits a student?s account at the school or pays a student or parent borrower directly with Title IV funds received from the U.S. Department of Education or with institutional funds in advance of receiving Title IV program funds. Condition: From a selection of 65 Pell Grant disbursements tested, we identified two disbursements that were reported to the COD system more than 15 days after the respective disbursement dates. Context: Each of the two disbursements were reported to the COD system 16 days after the respective disbursement dates. Cause: Origination records for the 2 students were initially sent on August 31, 2021 and rejected based on pending ISIR transactions not yet processed by CPS. Pell was paid for both students on September 8, 2021. The origination records were resolved and sent to COD on September 24, 2021, 16 days after the Pell paid to the student account. It should be noted that both instances involved a professional judgement review allowing the college to award additional Pell to families. This process can create delays in the process. Effect: Two Pell Grant disbursement were not reported to the COD system within the 15-day timeframe stipulated in Federal Register Volume 82, Number 122. Questioned Costs: None noted. Identified as a Repeat Finding: There was no similar finding in 2021. Recommendation: The College should review the effectiveness of its procedures governing the timely submission of Pell Grant disbursements to the COD system to ensure such records are submitted within the appropriate timeframe. Views of Responsible Officials: We concur. 2021-22 audit indicated that two Pell Grant disbursements were not reported within the 15-day timeframe stipulated in Federal Register Volume 82, Number 122. The origination records were resolved and sent to COD (processing platform) 16 days after Pell paid to the account. Both instances involved a professional judgment review allowing the College to award additional Pell to families. This process can create delays.