Finding Text
2024 – 004: Fiscal Operations Report and Application to Participate (FISAP) Reporting
Federal Agency: U.S. Department of Education
Federal Program Name: Student Financial Aid Cluster
Assistance Listing Number: 84.063, 84.268, 84.007, 84.033
Federal Award Identification Number: P063P233052, P063P223052, P268K243052, P268K233052, P007A231754, P007A221754, P033A231754
Award Period: July 1, 2023 – June 30, 2024
Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters
Criteria or specific requirement:
Internal Control – Per 2 CFR section 200.303(a), a non-Federal entity must: Establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
Compliance - The Code of Federal Regulations, 34 CFR 668.24(e)(i) requires an institution to maintain records to support the data contained in the FISAP.
Condition: The documents retained by the University to support amounts included in the FISAP did not agree to the FISAP.
Questioned Costs: None
Context: The enrollment count reported in the FISAP did not agree to supporting documentation.
Cause: These errors are a result of issues with the student information system.
Effect: The information in the FISAP is utilized to assist in the awarding of future awards and incorrect data could negatively impact future awards.
Repeat Finding: No
Recommendation: It is recommended that the College strengthens its internal controls and verification processes to ensure the accuracy of data reported in the FISAP. This may include creating a formalized review process for the FISAP and ensuring all supporting schedules used to populate the form are centrally stored.
Views of responsible officials: There is no disagreement with the audit finding.