FAC Explorer

Finding 611150 (2022-005)

Significant Deficiency
Requirement
C
Questioned Costs
-
Year
2022
Accepted
2023-04-02
Audit: 35403
Organization: Sullivan County Community College (NY)
Auditor: Rbt CPAS

AI Summary

  • Issue: The College failed to disburse grant funds on time, missing the 3 to 15-day requirement.
  • Impact: This oversight means the College did not comply with cash management rules for federal funding.
  • Follow-up: Management should review and understand all federal funding requirements to prevent future issues.

Finding Text

Compliance and Internal Control Finding 2022-005 Education Stabilization Fund 84.425 Condition: The College did not make timely disbursement of grant funds. Criteria: The compliance supplement states funds must be disbursed between 3 and 15 days after receipt for the Institutional and Student Aid funding. Cause: The College was unaware of the requirement. Effect: The College did not fully adhere to the cash management compliance requirement. Recommendation: RBT recommends that the management familiarize themselves with all of the federal requirements for all federal funding.

Categories

Cash Management Internal Control / Segregation of Duties

Other Findings in this Audit

  • 34708 2022-005
    Significant Deficiency
  • 34709 2022-006
    -
  • 34710 2022-007
    Significant Deficiency
  • 611151 2022-006
    -
  • 611152 2022-007
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $2.06M
84.425 Education Stabilization Fund $1.52M
84.268 Federal Direct Student Loans $1.34M
84.048 Career and Technical Education -- Basic Grants to States $61,719
84.033 Federal Work-Study Program $46,052
84.007 Federal Supplemental Educational Opportunity Grants $45,364