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2022-001: Reporting on the Fiscal Operations Report and Application to Participate (?FISAP?) Cluster: Student Financial Aid ALN: Various Criteria OMB Uniform Guidance 2 CFR Part 200, Part 5, requires that for institutions that accept student financial aid the auditee must submit a Fiscal Operations Report and Application to Participate. This electronic report is submitted annually to receive funds for the campus-based programs. The institution uses the Fiscal Operations Report portion to report its expenditures in the previous award year and the Application to Participate portion to apply for the following year. In addition, per the FISAP instructions, Section B. Certification and Warning, it is required that the University?s CEO, President, Chancellor, or Director sign the document to certify that the school is in compliance with the anti-lobbying requirements and that the FISAP data is true and accurate. Through certification, the certifying official must be aware that the information in this FISAP is subject to audit and program review. Condition In Part III. Federal Perkins Loan Program for Award Year July 1, 2021 through June 30, 2022, Section A. Fiscal Report (Cumulative) as of June 30, 2022, the University is unable to provide adequate support to properly reconcile all the components of the Perkins loan balance in the FISAP as of June 30, 2022. Cause There is an ongoing lack of reconciliation of historical Perkins loan balance, resulting in the University reporting unsupported amounts as of June 30, 2022. Effect The amounts reported on the FISAP for the Perkins loan balance were not substantiated by adequate audit support. This amount is reported in an informational section of the FISAP and therefore does not impact the amount of future funding. Questioned Costs As the amount reported was included within an informational section of the FISAP and there is no impact to the future funding the University may receive, there is no identified questioned cost. Recommendation We recommend that the University ensure they have proper controls, including an appropriate reconciliation process, in place to ensure the completeness and accuracy of the FISAP prior to filing. Additionally, the University should access the COD website to make the necessary corrections. As part of the process, the University will provide a description of the change and justify the need to make the correction and submit it for review by the FISAP Change Request Monitoring Team, which will notify the University of their decision around allowing or denying the correction.