Finding Text
COVID-19 Education Stabilization Fund Higher Education Emergency Relief Fund Federal Assistance Listing Number 84.425 U.S. Department of Education Criteria or Specific Requirement ? Cash Management (2 CFR 200.305 (b)) Condition ? The Organization did not disburse funds drawn down within 3 calendar days Questioned Costs ? None. Context ? Out of a population of fifteen cash draws, a sample of two draws were selected for testing. The sampling methodology used is not and is not intended to be statistically valid. Of the two draws tested, one was not disbursed within the required timeframe of three calendar days. Effect ? The System's cash management system is not operating within the requirements determined by Department of Education (DOE). Cause ? Management of the Organization does not have sufficient controls in place to ensure funds drawn in advance are disbursed within the required timeframe. Identification as a Repeat Finding ? Not applicable. Recommendation - Management should review cash management processes and establish appropriate controls to ensure funds drawn in advance are disbursed within required timeframes. Views of Responsible Officials and Planned Corrective Actions ? SoutheastHEALTH ("SEH") has developed an organization policy for cash management for federally sponsored grant programs. SEH will generally use the reimbursement method unless there is an immediate cash need to minimize the time elapsing between the drawdown and disbursement of funds.