FAC Explorer

Finding 562130 (2024-001)

- Repeat Finding
Requirement
L
Questioned Costs
-
Year
2024
Accepted
2025-06-02
Audit: 357766
Organization: Los Angeles Chapter National Tooling & MacHining Association Training Centers Trust (CA)
Auditor: Vasquez & Company LLP

AI Summary

  • Core Issue: There was an error in reporting disbursement dates for 1 out of 20 students, with the COD system showing November 29, 2023, instead of the correct date, December 18, 2023.
  • Impacted Requirements: The inaccuracies in the disbursement records violate reporting standards, even though they did not lead to questioned costs.
  • Recommended Follow-Up: Review and correct the disbursement date in the COD system to ensure accurate reporting and compliance with requirements.

Finding Text

Reporting: Inaccurate Reporting of Origination and Disbursement Records to Common Origination and Disbursement (COD) System We noted that 1 out of 20 students selected for Reporting had discrepancies in the disbursement date reported on the disbursement records compared to the actual disbursement date. The correct date of disbursement was December 18, 2023, but the date reported in COD system was November 29, 2023 due to the incorrect date encoded. This error did not result in a questioned cost, however, the reported date of distribution submitted in the COD system is still inaccurate.

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $832,607
84.268 Federal Direct Student Loans $495,733
84.425 Education Stabilization Fund $330,146