Finding Text
Federal Agency: Department of Education
Federal Program Title: Student Financial Assistance Cluster
Assistance Listing Number: 84.063
Award Period: July 1, 2023 to June 30, 2024
Type of Finding:
* Significant Deficiency in Internal Control over Compliance
* Other matter
Criteria or Specific Requirement: The Department of Education requires the College to report the disbursement dates and amounts to the Common Origination and Disbursement (COD) system within 15 days of disbursing Pell (34 CFR 690.83(b)(2) and Direct Loan (34 CFR 685.309) funds to a student.
Condition: During our testing, we noted 2 of the 20 disbursements tested had incorrect Pell disbursement dates reported to the Common Origination and Disbursement (COD) system.
Questioned Costs: None reported
Context: The College did not have an official policy outlining the steps for updating these dates and turnover in the department that handles this reporting.
Cause: The College does not have an official policy in place to ensure that dates entered are correct.
Effect: The College is not in compliance with Department of Education regulations.
Repeat Finding: No
Recommendation: We recommend the College evaluate its procedures and policies around reporting Pell disbursements to COD to ensure that student information is reported accurately and timely.
Views of Responsible Officials: There is no disagreement with the audit finding.