Finding Text
Condition: There were no monthly Title IV reconciliations performed.
Criteria: Per SFA requirements, the College is required to reconcile the COD data files with the College’s financial records.
Cause: Turnover in the staff and Director positions of the College. The new employees were not aware of this requirement.
Effect: Noncompliance with SFA requirements.
Perspective: Significant personnel changes were made at the end of the June 30, 2024 year. There were also new written standard operating policies and procedures implemented. Auditor sighted new policies and new spreadsheets. We also noted that monthly reconciliations have begun and are occurring monthly.
Recommendation: We recommend that the direct loans are reconciled at least monthly between the COD and the College’s general ledger.
Views of Responsible Officials and Planned Corrective Actions: Dodge City Community College staff involved have received training and been made aware of requirements. Monthly reconciliations will be performed immediately.