Finding Text
Assistance Listings Number: 84.007, 84.033, 84.063 & 84.268
Cluster Title: Student Financial Assistance Cluster
Program Titles: Federal Supplemental Educational Opportunity Grants, Federal Work-Study Program, Federal Pell Grant Program and Federal Direct Student Loans
Federal Agency: U.S. Department of Education
Award Year: 2024
Award Number: None
Compliance Requirement: Reporting
Question Costs: None
Criteria: The student financial assistance cluster requires that the college submit the Fiscal Operations Report and Application to Participate annually. The amount should agree to the underlying accounting records.
Condition: Total tuition and fees as reported in the FISAP report was $8,787,259 while the district’s underlying accounting records showed $9,133,531 for a difference of $346,272. Total Federal Pell expenditures were reported as $6,259,684 on the FISAP report while the underlying accounting records and schedule of expenditures of federal awards showed $6,298,477 for a difference of $38,793.
Cause: The District does not have adequate policies and procedures in place to ensure that revenues and expenditures are reported properly. Year-end adjustments were not identified and recorded prior to FISAP reporting.
Effect: Information reported by the District was not accurate and is not in compliance with requirements of the grant.
Recommendation: The District should establish policies and procedures to ensure that the amounts reported are accurate and agree to the underlying accounting records.
District’s Response: The District’s responsible officials’ views and planned corrective action are in its corrective action plan at the end of the report.