Finding 566943 (2024-003)

Finding: Item 2024-003 – Reporting: Pell Grant Disbursement Data Federal Program – Federal Pell Grant Federal ALN – 84.063 Federal Award Number – P063P188097 Federal Award Year – September 30, 2024 Federal Agency – U.S. Department of Education Pass-through Entity – Not Applicable Significant Deficiency Criteria: In the management and reporting of Pell Grants, institutions are required to submit Pell Grant origination and disbursement records to the U.S. Department of Education's Common Origination & Disbursement (COD) system. Institutions must report student disbursement data within 15 calendar days after making a disbursement or upon becoming aware of the need to adjust previously reported or expected disbursement data. The disbursement record must accurately report both the actual disbursement date and the amount disbursed. Condition / context: Out of a sample of 27 students who received Federal Pell Grants during the audit period, nine students did not have the correct disbursement date submitted to the COD system. The discrepancies in dates submitted and actual dates disbursed ranged from one to five days. The sample was not a statistically valid sample but was determined using Chapter 11 – Audit Sampling Considerations of Uniform Guidance Compliance Audits of the Audit and Accounting Guide for Government Auditing Standards and Single Audits. Cause: Procedures were not in place to verify that the correct disbursement dates were submitted to the COD system. Repeat finding: Not a repeat finding. Effect: Inaccurate disbursement date reporting can impact reconciliation efforts, potentially leading to compliance issues, administrative inefficiencies, and delays in financial aid processing. Recommendation: We recommend that the Financial Aid Coordinator coordinate with the bursar and add procedures to ensure the accuracy of disbursement date reporting. View of responsible officials: Management's response is reported in "Management's Views and Corrective Action Plan" at the end of this report.