Finding Text
Federal Agency Program – U.S. Department of Education, Student Financial Assistance Cluster, Federal Pell Grant Program, Assistance Listing Number 84.063; Federal Direct Loan Program, Assistance Listing Number 84.268
Program Year - June 1, 2023 – May 31, 2024
Criteria or Specific Requirement – Reporting - ED Form 646-1, Fiscal Operations Report and Application to Participate (FISAP) is submitted annually to receive funds for the campus-based programs. The institution uses 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.
Condition – During our testing, we noted supporting documentation for one section of the FISAP was not retained by the institution.
Questioned Costs – $0
Context – During our testing, it was noted that the University could not provide us with supporting documentation to support the reported information in Part III. Federal Perkins Loan Program for Award Year July 1, 2022 through June 30, 2023. Of a sample of six parts to the FISAP one section was not supported by required documentation.
Cause – The University did not retain appropriate supporting documentation.
Effect – The University reported incorrect information on the 2022-2023 FISAP.
Identification as a Repeat Finding – N/A
Recommendation – We recommend that the University has a policy in place to retain supporting documentation to provide evidence of the appropriateness of information reported annually on the FISAP.
Views of Responsible Officials and Planned Corrective Actions - Due to turnover
in the Controller position, the calculations for the FISAP cash balances
was not retained in a shared drive for future reference and audit review.
This practice is against University policy and resulted in the inability of current staff to
produce the documentation for audit review.
To address these issues, SBU employees have taken the following corrective measures:
1. The current Controller will adhere to University policy and save documentation in a
shared drive for future review and reference.