FAC Explorer

Finding 7440 (2023-004)

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Requirement
L
Questioned Costs
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Year
2023
Accepted
2024-01-04
Audit: 9586
Organization: Los Angeles Chapter National Tooling & MacHining Association Training Centers Trust (CA)
Auditor: Vasquez & Company LLP

AI Summary

  • Core Issue: There was an inaccuracy in the cost of attendance reported for 1 out of 15 students in the COD System.
  • Impacted Requirements: The correct budget code was not used, leading to an incorrect auto-populated amount.
  • Recommended Follow-Up: Review and correct budget codes in EdExpress to ensure accurate reporting in the COD System.

Finding Text

Reporting: Inaccurate Reporting of Origination Records to Common Origination and Disbursement (COD) System We noted that 1 out of 15 students selected for Reporting test work had an inaccurate cost of attendance reported in the COD System. The correct cost of attendance applicable to the student was $26,148 but the amount auto-populated in COD system from the EdExpress software was $29,555 due to the incorrect budget code used. This error did not result in a questioned cost as the student received the correct federal award amount, however, the reported COA submitted in the COD system is still inaccurate.

Corrective Action Plan

The Institution will be moving to a more succinct financial aid packaging system where there will not be multiple screens and/or places to update the same information and as such will eliminate the likelihood of these mistakes. The Institution will also verify and reconcile the institution's documented COA numbers with the data reported within the COD system until at such time the new FSA system will manage this process automatically. Personnel Responsible for Implementation: Danielle Skinner Position of Responsible Personnel: President Expected Date of Implementation: March 2024

Categories

Reporting

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.425 Education Stabilization Fund $1.39M
84.063 Federal Pell Grant Program $642,047
84.268 Federal Direct Student Loans $462,959