Finding Text
Finding 2022-001 - U.S. Department of Education (USDE), Title IV Student Financial Aid Programs (significant deficiency): Information on the federal program: Federal Direct Student Loans, CFDA No. 84. 268, June 30, 2022; Federal Pell Grants Program, CFDA No. 84.063, June 30, 2022; Federal Supplemental Educational Opportunity Grant, CFDA No. 84.007, June 30, 2022; Federal Work-Study Program, CFDA No. 84.033, June 30, 2022; Teacher Education Assistance for College and Higher Education CFDA No. 84.379, June 30, 2022 Criteria - Federal regulations governing the Title IV programs. Condition - Non-compliances were noted, as more fully described in the context below. Questioned Costs - $0 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: a) One (1) out of six (6) student files tested did not have their Title IV funds returned within the required 45 days. b) Two (2) out of fifty-four (54) student files tested did not have their refund issued within the required 14 days. 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- Yes Auditor's Recommendation - The College should impJement corrective actions to ensure that the above findings are resolved and will not recur in future periods.