Finding Text
Significant Deficiency
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268
Criteria: The College’s system of financial aid and internal controls should be designed to accurately retrieve records so that the College can comply with laws and regulations and be audited under Governmental Auditing Standards and Uniform Grant Guidance. The College’s system of internal controls must appropriately document reviews and approvals of all department of education compliance requirements.
Condition: The College could not timely retrieve all student records and show documentation of reviews and approvals.
Cause: The College changed their system for financial aid and did not appropriately backup historical records. Although they were able to provide all the latest ISIR records, they were not able to provide original ISIR records if a student amended their ISIR.
Recommendation: Particular attention should be placed on systems and process improvements necessary to ensure accurate retention of student records and documentation of reviews and approvals.
Context: Of our population tested the College had 1 record unable to be retrieved out of 40 and the whole population missing support or review and approvals for various requirements.
Effect: The College cannot show appropriate documentation for all records and controls.
Management Response: The College concurs with this finding.
Corrective Action Plan: See attached management’s corrective action plan.