Finding Text
Federal Agency: U.S. Department of Education
Federal Program Name: Student Financial Aid Cluster
Assistance Listing Number: 84.063, 84.268
Federal Award Identification Number: P063P231946, P268K241946
Award Period: July 1, 2023 – June 30, 2024
Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters
Criteria or Specific Requirement: The Department of Education requires the University to report the
disbursement dates and amounts to the COD system within 15 days of disbursing Pell and Direct Loan
funds to a student. (34 CFR 690.83(b)(2) and CFR 685.309)
Condition: Disbursements were not reported to COD within the required 15-day timeframe.
Questioned Costs: N/A
Context: During our testing of forty disbursements, we noted one disbursement was not reported to
COD in a timely manner.
Cause: The University’s controls around reporting to COD were not functioning as designed to ensure
timely reporting.
Effect: The University is not in compliance with the Department of Education guidelines.
Repeat Finding: No
Recommendation: We recommend the University evaluate its procedures and policies around
reporting to the COD to ensure that student information is reported timely.
Views of Responsible Officials: There is no disagreement with the audit finding and the University is
in the process of implementing corrective procedures.