Finding Text
Condition -
During the 2023 audit, it was noted that for one of forty students selected, the student’s disbursement information was not uploaded within the required timeframe.
Criteria -
The federal government requires the College to report student disbursement information to the U.S. Department of Education’s Common Origination and Disbursement (COD) website. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Institutions may do this by reporting once every 15 calendar days, bi-weekly or weekly, or may set up their own system to ensure that changes are reported in a timely manner.
Cause -
Human error resulted in a lack of timely reporting of the students disbursement information to COD.
Effect -
The College did not report students status changes to COD within the required timeframe which could impact the Colleges draw down of PELL funds.
Recommendation -
The College should provide training to employees responsible for processing information for the COD to ensure that they have adequate knowledge of the related rules and regulations. This training should include the importance of timely reporting and the consequences of late reporting. Additionally, a more formalized review and approval process will reduce the likelihood of such findings in the future.
Views of Responsible Officials-
The one student found with a disbursement reported late to COD was the result of a correction which was posted past the deadline. This was the result of staff turnover in the Financial Aid Office and the use of temporary employees as we began the job search for permanent replacements. Training will be provided going forward to all new employees including, temporary employees.