Finding Text
Criteria: The College must establish and maintain the financial records that reflect each Title IV program transaction on a current basis (34 CFR 668.24).
Condition: The College incorrectly reported Pell expenditures on the Fiscal Operations Report and Application to Participate (FISAP) for the 2020-2021 academic year. We consider this to be an instance of noncompliance of the Reporting compliance requirement. Statistical sampling was not used in making sample selections.
Cause: This condition was caused by inadequate controls over Reporting and a mistype on the report.
Effect: The College did not correctly report Pell expenditures on the FISAP that was submitted to the Department of Education.
Recommendation: We recommend that the College puts controls in place to review all inputs to the FISAP report to ensure all amounts reported are accurate and agree with the College’s records.
View of Responsible Officials: Management agrees with this Single Audit Finding and response is included in the Corrective Action Plan.