Information on the Federal Program: U.S. Department of Education, Trio Cluster
Criteria: 2 CFR 200.305 establishes the procedures for receiving federal payments. Non-federal entities must design and implement internal controls to ensure compliance with cash management requirements.
Condition: We selected a sample of 24 reimbursement draw downs made during the year through the G5 payment system. Procedures were in place to accumulate expenses based on approved invoices and draw the reimbursement amount down through G5, however, documentation of review and approval of amounts to be drawn was not available.
Management’s Response: The College has always had controls on draw downs associated with separation of duties and the review of grants. The College will ensure a signature page is included to document these efforts of the review and approval of all Federal draw downs.
Anticipated Completion Date: January 31, 2025