Finding Text
2022 ? 003: Late Submission of the FISAP Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Aid Cluster Assistance Listing Number: 84.007, 84.033, 84.038 Federal Award Identification Number and Year: P007A214513-2022, P033A214513-2022 Award Period: July 1, 2021 to June 30, 2022 Type of Finding: ? Significant Deficiency in Internal Control over Compliance ? Other Matters Criteria or specific requirement: Federal regulations state that if you spent Campus-Based program funds or have a Perkins Loan Fund, you must submit a Fiscal Operations Report. The regulatory and statutory citations are as follows: (Perkins Loan (34 CFR 674.19), FWS (34 CFR 675.19), and FSEOG (34 CFR 676.19). The submission of the FISAP is required to be filed by September 30th, 2022. Condition: The University Chief Executive Officer did not sign the filed Fiscal Operations Report and Application to Participate (FISAP) until October 7th, 2022, which is after the deadline date in the stated criteria. Questioned costs: There are no questioned costs. Context: In performing our audit, we noted that the University had not filed the FISAP by the required due date in the stated criteria. Cause: The University?s internal controls failed to detect that the FISAP was not filed by the due date in the stated criteria. Effect: The University was not in compliance with the requirement to file the FISAP by the due date in the stated criteria. Repeat Finding: No Recommendation: We recommend the University review its policies and procedures for the filing of the FISAP to ensure that there is sufficient time in the process to meet the due date in accordance with the stated criteria. Views of responsible officials: There is no disagreement with the audit finding.