Finding Text
2022 ? 005: Reporting - Federal Agency: U.S. Department of Education Federal Program Name: COVID-19 Education Stabilization Fund: Higher Education Emergency Relief Funds Assistance Listing Number: 84.425E & F Federal Award Identification Number and Year: P425K200020-20B -Year Ended June 30, 2022 Award Period: 05/28/2020 ? 06/30/2024 ? Significant Deficiency in Internal Control over Compliance ? Other Matters Criteria or specific requirement: Section 200.303, Internal Controls, states that the College shall ?establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in ?Standards for Internal Control in the Federal Government? issued by the Comptroller General of the United States or the ?Internal Control Integrated Framework?, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). An institution is required to publicly post its Quarterly Reporting Form for the Student (84.425E) and Institutional (84.425F) funding within ten (10) days of the end of the quarter. Annual reporting for all fund expended January 1, 2021 through December 31, 2021 was due May 6, 2022 Condition: The College did not maintain supporting documentation to illustrate timely posting of its quarterly reports. The annual report was submitted on May 9, 2022. Questioned costs: None Context: During our audit of the reporting requirements, submission of quarterly and annual reports was completed in accordance with the required deadlines. Cause: The College did not submit its quarterly and annual reports prior to the reporting deadlines. Effect: The College published quarterly reports after ten (10) days after the end of the quarter. The annual report was completed after the May 6, 2022 deadline. Repeat Finding: No Recommendation: We recommend that the College develop a process and internal controls to ensure timely publication and submission of required reports and maintain supporting documentation to verify compliance. Views of responsible officials: The College agrees with the auditor?s comments and has taken corrective action to ensure reporting consideration is added to policies and procedures.