Finding Text
Finding 2022-006 Federal Assistance Listing Number: 84.425 Subprogram Number(s): 84.425E, 84.425F, and 84.425N Federal Agency: U.S. Department of Education Program Name: Education Stabilization Fund Type(s) of Compliance Requirements: Cash Management Type of Finding: Noncompliance Criteria: Entities must minimize the time elapsing between the transfer of funds from the federal awarding agency and the disbursement of funds by the entity. Condition: The College withdrew all funds remaining in the G5 grants system and did not disburse the funds. Cause: The College withdrew all funds remaining under each award as of December 21, 2021 with the understanding that the funds were expiring as of December 31, 2021. Effect: The College is noncompliant with the requirements under Cash Management. Recommendation: We recommend that the College develop and implement procedures to ensure that federal funds are administered in accordance with program compliance requirements.