FAC Explorer

Finding 615305 (2022-007)

Significant Deficiency
Requirement
E
Questioned Costs
-
Year
2022
Accepted
2023-09-24
Audit: 46564
Organization: Salem Community College (NJ)
Auditor: Bkc CPAS PC

AI Summary

  • Core Issue: Two students missed out on Direct Loan disbursements totaling $7,917.
  • Impacted Requirements: Direct Loans must be credited to student accounts in a timely manner.
  • Recommended Follow-Up: The School should establish procedures to ensure proper crediting of all Direct Loans.

Finding Text

Type: Internal Control Over Compliance Criteria: Awarded Direct Loans should be credited to student accounts timely. Condition: Two students did not receive their Direct Loan disbursements. Cause: The Direct Loans were awarded but the awards were not credited to the student?s accounts. Effect: The students did not receive Direct Loans totaling $7,917. Recommendation: The School should implement procedures to ensure that all Direct Loans are properly credited to student accounts. Management?s Response: The School will review their procedures relating to the disbursement of Direct Loans.

Categories

Student Financial Aid Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 38861 2022-003
    Significant Deficiency Repeat
  • 38862 2022-004
    Significant Deficiency
  • 38863 2022-007
    Significant Deficiency
  • 38864 2022-003
    Significant Deficiency Repeat
  • 38865 2022-005
    Significant Deficiency Repeat
  • 38866 2022-006
    Significant Deficiency Repeat
  • 38867 2022-003
    Significant Deficiency Repeat
  • 38868 2022-003
    Significant Deficiency Repeat
  • 615303 2022-003
    Significant Deficiency Repeat
  • 615304 2022-004
    Significant Deficiency
  • 615306 2022-003
    Significant Deficiency Repeat
  • 615307 2022-005
    Significant Deficiency Repeat
  • 615308 2022-006
    Significant Deficiency Repeat
  • 615309 2022-003
    Significant Deficiency Repeat
  • 615310 2022-003
    Significant Deficiency Repeat

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $1.72M
84.268 Federal Direct Student Loans $706,653
84.425 Education Stabilization Fund $384,401
84.048 Career and Technical Education -- Basic Grants to States $118,898
84.007 Federal Supplemental Educational Opportunity Grants $34,099
84.033 Federal Work-Study Program $16,381