Finding Text
Federal Agency: U.S. Department of Education
Federal Program Name: Student Financial Assistance Cluster
Assistance Listing Number:
84.063 – Federal Pell Grant Program
84.268 – Federal Direct Student Loans
84.379 – Teacher Education Assistance for College and Higher Education Grants
Federal Award Identification Number and Year: N/A
Pass-Through Agency: N/A
Pass-Through Number(s): N/A
Award Period: July 1, 2023 to June 30, 2024
Type of Finding:
• Significant Deficiency in Internal Control over Compliance
• Other Matters
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 40 disbursements tested had incorrect disbursement dates reported to the Common Origination and Disbursement (COD) system.
Questioned Costs: None
Context: The University did not have an effective process in place to timely report disbursements to COD.
Cause: The University does not have a process in place to accurate report Pell disbursements to COD within the required 15 days.
Effect: The University is not in compliance with Department of Education regulations.
Repeat Finding: No
Auditors’ Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely.
Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the audit finding.