Finding 945485 (2023-004)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-02-14
Audit: 290458
Organization: Connors State College (OK)

AI Summary

  • Core Issue: Connors State College failed to return 7 Title IV refund checks that were outstanding for over 240 days.
  • Impacted Requirements: This violates 34 CFR 668.164(h)(2) regarding timely fund disbursement and return.
  • Recommended Follow-Up: Implement a reconciliation process for stale checks against student disbursement records to ensure compliance.

Finding Text

Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(h)(2) states that an institution that attempts to disburse funds by check and the check is not cashed, the institution must return the funds to the Secretary no later than 240 days after the date it issued that check. The Code of Federal Regulations, 2 CFR 200.303, required that entities must establish and maintain internal controls which provide reasonable assurance that federal award expenditures are in compliance with Federal statutes, regulations, and the terms and conditions of the Federal Award. Condition: Connors State College had 7 instance of Title IV refund checks to students that were outstanding longer than 240 days as of June 30, 2023. Context: During the testing of the outstanding Title IV student check listing CLA observed seven instances of stale checks at Connors that were aged greater than 240 days. Questioned costs: N/A Cause: Connors State College had controls in place to catch stale checks and reissue, but financial personnel was not catching reissues over 240 days. Effect: Funds are not returned to the Department of Education in a timely manner Repeat finding: No Recommendation: We recommend that the College start to reconcile stale checks to student disbursement info by check number. Views of responsible officials: Management agrees with the finding and has developed a plan to correct the finding.

Categories

Student Financial Aid Internal Control / Segregation of Duties

Other Findings in this Audit

  • 369035 2023-002
    Significant Deficiency
  • 369036 2023-002
    Significant Deficiency
  • 369037 2023-002
    Significant Deficiency
  • 369038 2023-002
    Significant Deficiency
  • 369039 2023-003
    Significant Deficiency
  • 369040 2023-003
    Significant Deficiency
  • 369041 2023-003
    Significant Deficiency
  • 369042 2023-003
    Significant Deficiency
  • 369043 2023-004
    Significant Deficiency
  • 369044 2023-004
    Significant Deficiency
  • 369045 2023-004
    Significant Deficiency
  • 369046 2023-004
    Significant Deficiency
  • 369047 2023-005
    Significant Deficiency
  • 369048 2023-005
    Significant Deficiency
  • 369049 2023-005
    Significant Deficiency
  • 369050 2023-005
    Significant Deficiency
  • 945477 2023-002
    Significant Deficiency
  • 945478 2023-002
    Significant Deficiency
  • 945479 2023-002
    Significant Deficiency
  • 945480 2023-002
    Significant Deficiency
  • 945481 2023-003
    Significant Deficiency
  • 945482 2023-003
    Significant Deficiency
  • 945483 2023-003
    Significant Deficiency
  • 945484 2023-003
    Significant Deficiency
  • 945486 2023-004
    Significant Deficiency
  • 945487 2023-004
    Significant Deficiency
  • 945488 2023-004
    Significant Deficiency
  • 945489 2023-005
    Significant Deficiency
  • 945490 2023-005
    Significant Deficiency
  • 945491 2023-005
    Significant Deficiency
  • 945492 2023-005
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $4.37M
84.268 Federal Direct Student Loans $3.47M
84.042 Trio_student Support Services $318,567
84.031 Higher Education_institutional Aid $277,857
84.007 Federal Supplemental Educational Opportunity Grants $161,181
93.558 Temporary Assistance for Needy Families $97,341
84.033 Federal Work-Study Program $87,252
93.575 Child Care and Development Block Grant $71,505
84.048 Career and Technical Education -- Basic Grants to States $5,244