FINDING 2022 – 008:
Type of Finding: Cash Management
Name of Responsible Individual: C.F.O., Gregory Bloomfield (304-243-2233)
Criteria: Reporting: The University is required to disburse student aid payments within 15 calendar
days after the draw down of the fund.
Condition: For 4 out of 35 students selected for testing the funds were disbursed to the students more
than 15 days after funds were drawn down.
Corrective Action: The University will formalize and document financial processes to establish internal
controls in order to ensure accurate, timely and consistent reporting. In addition, this will create a
reasonable transition plan during employee turnover, as well as ensure proper and timely filings.
Anticipated Completion Date: Correction Action complete as this Federal program has been since
exhausted; no further disbursements nor reporting requirements to date.