Finding Text
Finding 2024-002 – U.S. Department of Education (USDE), Title IV Student Financial Aid
Programs Planning (significant deficiency)
Information on the federal program – Federal Direct Student Loans, FAL No. 84.268, June 30,
2024; Federal Pell Grants Program, FAL No. 84.063, June 30, 2024; Federal Supplemental
Educational Opportunity Grant, FAL No. 84.007, June 30, 2024; Federal Work-Study Program,
FAL No. 84.033, June 30, 2024
Criteria – Federal regulations governing Title IV programs.
Condition – Non-compliances were noted, as more fully described in the context below.
Questioned Costs – N/A
Context – We observed the following conditions in connection with our testing of the various U.S.
Department of Education, Title IV, Student Financial Assistance Programs
Three (3) out of 25 students had a credit balance on their account created by Title IV program
funds longer than 14 days. draft
34 CFR 668.164(h)(1).
Cause – Oversight by responsible employees.
Effect – The College’s participation in the Title IV programs could be subject to USDE sanctions
as applicable.
Repeat Finding – No
Auditor’s Recommendation – We strongly recommend the College refine the processes and
procedures for the timely recording of disbursements in the general ledger allowing for more
accuracy in financial reporting.