Finding Text
2024-004 – Fiscal Operations Report and Application to Participate (FISAP) Reporting. Finding Type. Immaterial Noncompliance/Significant Deficiency in Internal Control over Compliance (Reporting). Programs. Student Financial Assistance Cluster; U.S. Department of Education; Assistance Listing Numbers 84.007, 84.033, 84.063, and 84.268; Award Numbers P007A232049, P033A232049, P063P231644, and P268K241644. Criteria. The Code of Federal Regulations, 34 CFR 675.19(b)(3) states that accurate information be populated and submitted on the Fiscal Operations Report and Application to Participate (FISAP). Condition. It was noted during our testing of the FISAP that the College did not have support for one of the eight key line items identified in the compliance supplement as critical information. Cause. The College does not have policies and procedures in place to ensure information reported on the FISAP was accurate. Effect. The College is not in compliance with the Department of Education requirements that state the FISAP must be accurately reporting information. Questioned Costs. No costs were required to be questioned as a result of this finding inasmuch as our testing did not reveal any unallowed costs. Recommendation. We recommend the College review their policies and procedures surrounding FISAP reporting. View of Responsible Officials. Management agrees with this finding and has prepared a Corrective Action Plan.