Core Issue: The Institution lacks sufficient procurement policies as required by federal regulations.
Impacted Requirements: Compliance with 2 C.F.R. 200.318 through 200.326 is not met, leading to potential misuse of funds.
Recommended Follow-Up: The Institution should create and enforce the necessary procurement policies to ensure compliance.
Finding Text
FINDING 2022-002: INSUFFICIENT PROCUREMENT POLICY FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HEERF CLUSTER 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. 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. Statistical sampling was not used when making sample selections. Questioned Costs: $0 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. See Schedule of Findings and Questioned Costs for chart/table.
Corrective Action Plan
Comments on Findings and Recommendations: Finding 2022-002 - Valor Christian College concurs with the finding and recommendations in the finding. Actions Taken or Planned: Finding 2022-002 - 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.