Finding 519693 (2024-003)

Material Weakness
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-01-17

AI Summary

  • Core Issue: The College lacks effective internal controls for reviewing the FISAP, risking inaccurate reporting to the U.S. Department of Education.
  • Impacted Requirements: Compliance with 2 CFR 200.303 and specific regulations for Title IV programs, which mandate accurate submission of the FISAP.
  • Recommended Follow-Up: Implement a review process for the FISAP before submission to ensure accuracy and compliance.

Finding Text

Assistance Listing Number, Federal Agency, and Program Name - 84.007, 84.033; U.S. Department of Education; Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Work-Study Program (FWS) Federal Award Identification Number and Year - P007A236053, P033A236053; 2023-2024 Pass through Entity - N/A Finding Type - Material weakness Repeat Finding - No Criteria - In accordance with 2 CFR 200.303, the College must establish and maintain effective internal controls over its federal awards in order to provide reasonable assurance that it is managing the federal awards in compliance with federal statutes, regulations, and the terms and conditions of the federal awards. Specific to these Title IV programs, 34 CFR 675.19(b)(3) (FWS) and 34 CFR 676.19(b)(3) (FSEOG) outline the requirement for institutions to submit a Fiscal Operations Report (FISAP). Condition - There was a lack of internal controls in place related to the review of the FISAP that was submitted by the College in September 2023. Questioned Costs - N/A Identification of How Questioned Costs Were Computed - N/A Context - Once the FISAP was prepared, there was no control in place ensure that the information included in the report was accurate. Cause and Effect - A lack of review of the completed report prior to submission could lead to inaccurate information being reported to the U.S. Department of Education. Recommendation - We recommend that the College implement a level of review of the report prior to submission. Views of Responsible Officials and Planned Corrective Actions - The College will establish the proper controls to ensure that the information included in the FISAP is accurate, including implementing an additional level of review of the report.

Corrective Action Plan

Finding Number: 2024-003 Condition: There was a lack of internal controls in place related to the review of the FISAP that was submitted by the College in September 2023. Planned Corrective Action: The College will establish the proper controls to ensure that the information included in the FISAP is accurate, including implementing an additional level of review of the report. Contact person responsible for corrective action: David Cummins, Vice President for Administrative Services and College Treasurer Anticipated Completion Date: As soon as possible moving forward starting December 18, 2024.

Categories

Student Financial Aid Internal Control / Segregation of Duties Material Weakness

Other Findings in this Audit

  • 519690 2024-002
    Material Weakness
  • 519691 2024-002
    Material Weakness
  • 519692 2024-002
    Material Weakness
  • 519694 2024-003
    Material Weakness
  • 519695 2024-004
    Significant Deficiency
  • 519696 2024-004
    Significant Deficiency
  • 519697 2024-004
    Significant Deficiency
  • 519698 2024-004
    Significant Deficiency
  • 1096132 2024-002
    Material Weakness
  • 1096133 2024-002
    Material Weakness
  • 1096134 2024-002
    Material Weakness
  • 1096135 2024-003
    Material Weakness
  • 1096136 2024-003
    Material Weakness
  • 1096137 2024-004
    Significant Deficiency
  • 1096138 2024-004
    Significant Deficiency
  • 1096139 2024-004
    Significant Deficiency
  • 1096140 2024-004
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $5.06M
84.268 Federal Direct Student Loans $5.00M
84.048 Career and Technical Education -- Basic Grants to States $177,831
84.007 Federal Supplemental Educational Opportunity Grants $177,669
17.261 Workforce Data Quality Initiative (wdqi) $143,536
59.037 Small Business Development Centers $123,198
14.218 Community Development Block Grants/entitlement Grants $95,000
84.033 Federal Work-Study Program $61,010
93.575 Child Care and Development Block Grant $51,630
10.684 International Forestry Programs $36,938