Federal Program:
U.S. Department of Education - Student Financial Assistance Cluster
Federal Perkins Loan Program, 84.038
Federal Supplemental Educational Opportunity Grants, 84.007 Federal Work Study Program, 84.033
Criteria: The College is required to comply with 34 CFR Section 674.19, 34 CFR 675.19 and 34 CFR 676.19.
Condition: During our testing of the Fiscal Operations Report and Application to Participate (FISAP), we noted that Part II (Application), Section E, Line 22: total tuition and fees for the award year July 1, 2023 to June 30, 2024 did not agree or reconcile to the statement of activities.
Cause: The College did not have controls in place to ensure FISAP reporting was accurate.
Effect: The College did not follow federal regulations regarding FISAP reporting accuracy. The provisions of 34 CFR Section 674.19, 34 CFR 675.19 and 34 CFR 676.19 were not followed and thus the total tuition and fees for the award year July 1, 2023 to June 30, 2024 reported on the FISAP were greater than the tuition and fees on the statement of activities by $368,034.
Questioned Costs: There are no questioned costs associated with this finding.
Recommendation: We recommend that the College implement a control to ensure FISAP reporting is accurate.
Corrective Actions Taken or Planned: The College concurs with the finding. A system of controls will be implemented to ensure accurate data is reported on all required reporting.
Individual Responsible for Corrective Action:
Katie Palmer, Director of Financial Planning
Expected Completion Date: August 2025