Finding Text
Audit Finding Reference Number
2022 - 004 - Fiscal Operations Report and Application to Participant (FISAP)
Federal Program and Specific Federal Award Identification
CFDA Title and Number
84.063 Federal Pell Grant Program (PELL)
84.007 Federal Supplemental Educational Opportunity Grant (FSEOG)
Federal Award Year
June 30, 2022
Federal Agencies
U. S. Department of Education
Pass-Through Entity
Not applicable
Criteria
OMB 2 CFR 200, Subpart F Compliance Supplement, Part 5 - Student Financial Assistance Programs, Section (L) (3) indicates that ABC should submit its FISAP report containing critical information. The Compliance Supplement requires the auditor to examine financial reports to provide reasonable assurance that the reports of Federal awards submitted to the Federal awarding agency or pass-through entity include all activity of the reporting period, be supported by underlying accounting or performance records, and are fairly presented in accordance with program requirements.
Conditions and Contexts
During my audit of the FISAP report, I noted differences between the amounts recorded in the FISAP and supporting documentation.
Cause
A lack of adequate supervision over individuals preparing the FISAP report.
Questioned Costs
For the purpose of this finding, I have not questioned any costs.
Effect
ABC is not in compliance with federal reporting requirements.
Repeat Finding
No.
Recommendation
I recommend that ABC implement controls to ensure that information reported in the FISAP report is accurate and agrees to supporting documentation.