Compliance Assurance Program (CAP) for its Financial Aid program. CAP will add an enhanced level of education, guidance, communication and oversight activities to its existing management oversight system. 2014-03 The District implement procedures Responsible: March 2015 Status as of 2/18/2015 Fiscal Oversight; enhance to ensure that the Return of Title Associate Vice Chancellor communication between • The compliance monitoring ELIGIBILITY AND IV funds calculation are done in a Student Services, College the District and the and district guidance provided SPECIAL TESTS timely manner and that all funds Presidents colleges; manage fiscal by the District Financial Aid owed are returned. Point: Director of Financial resources (E.3) Director will continue, and Aid, Internal Auditor, & VP additionally be further CAMPUS: MERRITT Student Services enhanced with the COLLEGE establishment of the Compliance Assurance Program(CAP). • Merritt College management is currently in process of acquiring adequate staffing for their Financial Aid office. 2014-04 The District will implement Responsible: Associate Vice March 2015 Status as of 2/18/2015 Fiscal Oversight; manage policies and procedures to verify Chancellor Student Services fiscal resources; enhance • The District will continue to DIRECT LOAN that the School Account Point: Director of Financial communication between provide guidance and training RECONCILIATION Statement(SAS) data file and the Aid, VP of Student Services the District and the to assist College Financial Aid Loan Detail records per the DOE’s & Internal Auditor colleges (E.3) Office personnel and Common Origination and management to perform the CAMPUS: LANEY AND Disbursement(COD) system are COD reconciliation process. MERRITT COLLEGE reconciled to the institution’s The Internal Auditor and financial records. Director are developing Repeat finding guidelines to better ensure 2013-8 (prior year included easier understanding and College of Alameda) ultimately improved compliance with regulations.
Compliance Assurance Program (CAP) for its Financial Aid program. CAP will add an enhanced level of education, guidance, communication and oversight activities to its existing management oversight system. 2014-03 ELIGIBILITY AND SPECIAL TESTS CAMPUS: MERRITT COLLEGE The District implement procedures to ensure that the Return of Title IV funds calculation are done in a timely manner and that all funds owed are returned. Responsible: Associate Vice Chancellor Student Services, College Presidents Point: Director of Financial Aid, Internal Auditor, & VP Student Services March 2015 Status as of 2/18/2015 • The compliance monitoring and district guidance provided by the District Financial Aid Director will continue, and additionally be further enhanced with the establishment of the Compliance Assurance Program(CAP). • Merritt College management is currently in process of acquiring adequate staffing for their Financial Aid office. Fiscal Oversight; enhance communication between the District and the colleges; manage fiscal resources (E.3) 2014-04 DIRECT LOAN RECONCILIATION CAMPUS: LANEY AND MERRITT COLLEGE Repeat finding 2013-8 (prior year included College of Alameda) The District will implement policies and procedures to verify that the School Account Statement(SAS) data file and the Loan Detail records per the DOE’s Common Origination and Disbursement(COD) system are reconciled to the institution’s financial records. Responsible: Associate Vice Chancellor Student Services Point: Director of Financial Aid, VP of Student Services & Internal Auditor March 2015 Status as of 2/18/2015 • The District will continue to provide guidance and training to assist College Financial Aid Office personnel and management to perform the COD reconciliation process. The Internal Auditor and Director are developing guidelines to better ensure easier understanding and ultimately improved compliance with regulations. Fiscal Oversight; manage fiscal resources; enhance communication between the District and the colleges (E.3)
CORRECTIVE-ACTION-MATRIX-June-30-2014-3-1.docx