Finding Text
Criteria: The College is required to submit the FISAP which includes information that the Department of Education has determined to be critical. Condition: Section F of Part II of the FISAP includes a column for dependent undergraduates with baccalaureate degrees. Three such students were identified but not indicated on the FISAP. Context: A finding with regard to incorrect information on the FISAP for Federal Work Study was reported as 2023-006. Effect: Insufficient internal controls over the FISAP can result in errors in the amounts reported to the Department of Education. Cause: Inadequate staffing and workload management were the direct cause of this omission. Recommendation: We recommend that the College strengthen review procedures over the FISAP to ensure accuracy. Management's Response: At the time that the last FISAP was completed, the Financial Aid office was severly under staffed. As a result, an oversight occurred in regard to reporting dependent undergraduate students with Baccalaureate degree. In this instance, the correct information was retrieved, however it was reported incorrectly. Staffing in the Financial Aid office was addressed with hiring an Advisor and Assistant Director. Moving forward, the Assistant Dean will continue to complete the FISAP. However, prior to submission, the application will be reviewed by both Assistant Directors of Financial Aid.