Finding 968399 (2023-008)

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Requirement
I
Questioned Costs
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Year
2023
Accepted
2024-04-01
Audit: 302137
Organization: Presbyterian College (SC)
Auditor: Bdo USA PC

AI Summary

  • Core Issue: The College lacks a formal procurement policy that meets federal standards.
  • Impacted Requirements: This non-compliance with 2 CFR 200 procurement standards could lead to issues with federal funding.
  • Recommended Follow-Up: The College should create and implement a documented procurement policy that aligns with federal guidelines.

Finding Text

Federal Program Information: COVID – Coronavirus State and Local Fiscal Recovery Funds (ALN #21.027) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): Procurement: The non-Federal entity must have and use documented procurement procedures, consistent with State, local, and tribal laws and regulations and the standards of 2 CFR 200.318, for the acquisition of property or services required under a Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in 2 CFR 200.317 through 200.327. Condition: The College did not have a formal procurement policy in place documenting procedures that conform to the procurement standards in the Uniform Guidance. Cause: Lack of administrative oversight with respect to procurement process. Effect or Potential Effect: The College is not in compliance with procurement standards. Questioned Costs: None. Context: The College did not have a formal procurement policy in place documenting procedures that conform to the procurement standards in the Uniform Guidance. Identification as a Repeat Finding: There was no similar finding identified during the prior year. Recommendation: We recommend the College develop and implement a procurement policy conforming to procurement standards. Views of Responsible Officials:

Categories

Procurement, Suspension & Debarment Subrecipient Monitoring Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
10.766 Community Facilities Loans and Grants $58.41M
84.268 Federal Direct Student Loans $15.54M
84.063 Federal Pell Grant Program $1.45M
21.027 Coronavirus State and Local Fiscal Recovery Funds $593,347
84.033 Federal Work-Study Program $129,877
93.859 Biomedical Research and Research Training $121,441
84.007 Federal Supplemental Educational Opportunity Grants $107,905
47.050 Geosciences $52,754
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $7,544
43.008 Undergraduate Student Research Award $7,500
43.008 Space Grant Campus Director $1,500
84.038 Federal Perkins Loan Program $0