Finding 980589 (2023-002)

Material Weakness
Requirement
N
Questioned Costs
-
Year
2023
Accepted
2024-06-28
Audit: 310937
Organization: Bucks County Community College (PA)

AI Summary

  • Core Issue: The College has over 140 student financial assistance checks outstanding for more than 240 days, violating federal regulations.
  • Impacted Requirements: According to 34 CFR 668.164 (1), these funds must be returned to the federal government and cannot be escheated to the state.
  • Recommended Follow-Up: The College should establish a monitoring process for outstanding checks to ensure compliance with federal regulations.

Finding Text

Finding 2023-002: Special Tests and Provisions (Material Weakness) U.S. Department of Education – Student Financial Assistance Cluster Statement of Condition: The College has approximately 140 student financial assistance checks that were outstanding at year end that were over 240 days old and they have not been returned to the federal government. The College has also escheated uncashed student financial assistance checks to the state of Pennsylvania. Criteria: As outlined under 34 CFR 668.164 (1), an institution must have a process that ensures student financial assistance funds outstanding are returned to the federal government within 240 days. They may not be escheated to a state or revert to the institution or any other third party. Cause: The College did not have a process in place to monitor outstanding student financial assistance checks or to prevent these funds from escheating to the Commonwealth of Pennsylvania. Effect: The College is not following required Federal Student Assistance regulations in maintaining an appropriate administrative capability to administer funds. Questioned Costs: The amount of questioned costs could not be determined. Repeat Finding: This is not considered a repeat finding. Recommendation: We recommend that the College immediately create a process and procedures to ensure monitoring of outstanding student financial assistance checks and to ensure that those checks are treated in accordance with Federal Student Assistance regulations. View of responsible officials and planned corrective actions: Management agrees with the finding, see corrective action plan.

Categories

Special Tests & Provisions Subrecipient Monitoring Material Weakness

Other Findings in this Audit

  • 404146 2023-002
    Material Weakness
  • 404147 2023-002
    Material Weakness
  • 404148 2023-002
    Material Weakness
  • 404149 2023-002
    Material Weakness
  • 404150 2023-003
    Material Weakness
  • 404151 2023-003
    Material Weakness
  • 980588 2023-002
    Material Weakness
  • 980590 2023-002
    Material Weakness
  • 980591 2023-002
    Material Weakness
  • 980592 2023-003
    Material Weakness
  • 980593 2023-003
    Material Weakness

Programs in Audit

ALN Program Name Expenditures
84.063 Federal Pell Grant Program $5.79M
84.268 Federal Direct Student Loans $3.95M
84.425 Covid-19, Education Stabilization Fund $1.16M
84.007 Federal Supplemental Educational Opportunity Grants $547,656
21.027 Covid-19, Coronavirus State and Local Fiscal Recovery Funds $234,526
93.558 Temporary Assistance for Needy Families $167,601
84.033 Federal Work-Study Program $161,899
14.218 Covid-19, Community Development Block Grants/entitlement Grants $135,271
84.048 Career and Technical Education -- Basic Grants to States $134,359
17.259 Wia Youth Activities $94,629
12.006 National Defense Education Program $71,143
47.076 Education and Human Resources $25,119
93.575 Covid-19, Child Care and Development Block Grant $19,377
45.025 Promotion of the Arts_partnership Agreements $13,000
17.258 Wia Adult Program $4,146
84.002 Adult Education - Basic Grants to States $1,382