Finding Text
U.S. Department of Education - COVID-19 Education Stabilization Fund (ALN 84.425) Statement of Condition: The College reported 1,083 students who received student aid in the amount of $2,670,299 in the current year, however those students were reported correctly in the previous year. In the current year student aid was not disbursed. Also, the College reported calendar year 2021 lost revenue in the amount of $1,421,437 on the calendar year 2022 annual report, the lost revenue should have been reported on the Calendar year 2021 report. Criteria: The Federal Department of Education utilizing 34 CFR 75.720(b) requires an annual report for all institutional and student expenditures that were made in the preceding calendar year. Cause: There was not a review of the completed form before the College submitted the form to the federal reporting portal. Effect of the Condition: The annual report did not reflect the actual amount of student and institutional expenditures of the College. Recommendation: We recommend that the College review reporting that is submitted to the federal agency for accuracy before submission. Questioned Costs: There are no questioned costs associated with this finding. Repeat Finding: This is not considered a repeat finding. Views of Responsible Officials: See separate Corrective Action Plan.