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FSA Assessments:
An Opportunity to Improve
Compliance
Julie Arthur
David Bartlett
What are the FSA Assessments?
Tools to:
Prevent non-compliance
Identify compliance
issues
Establish Action
Planning steps to correct
problems
2
Why use the FSA Assessments?
3
Standards for Participation
• Program Participation
Agreement
• Factors of financial responsibility
• Standards of administrative
capability
4
Importance of Administrative
Capability
• Administrative capability: a
standard for participation
• 34 C.F.R. § 668.16 “Standards
of Administrative Capability”
• Program review and audit
findings may indicate lack of
administrative capability
5
Using Findings to Improve
Compliance
• Program review and audit findings
are good starting point for
diagnosing
• Review past findings and develop
policies and procedures to prevent
problems from recurring
• Repeat findings indicate problems
that have not been corrected
6
Findings With Significant
Liabilities
• Return of Title IV Funds
–Returns not Made
–Calculation Errors
–Made Late
• Verification Violations
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Findings With Significant
Liabilities
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Correcting and Preventing Findings
• Verification Incomplete,
Missing, Errors
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Where to find the Federal
Student Aid Assessments
• IFAP
http://ifap.ed.gov
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Where to find the Federal
Student Aid Assessments
•School Portal
http://FSA4schools.ed.gov
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The Redesign of the Assessments
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FSA Assessments – Four Categories
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FSA Assessments Chart
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FSA Assessments Chart
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Correcting and Preventing Findings
• Verification Incomplete,
Missing, Errors
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FSA Assessments – Policies and
Procedures
Return of Title IV Funds (R2T4) Errors,
Incomplete, Late, Missing
17
Return of Title IV Funds
18
Return of Title IV Funds
19
Getting Started Developing
Policies and Procedures
20
Getting Started with P & P
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P & P at a Glance
22
P & P At a Glance
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Correcting and Preventing Findings
• Verification Incomplete,
Missing, Errors
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FSA Assessments - Activities
Finding: 2 – Verification Incomplete
25
FSA Assessments – Verification
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Verification
Activity 4
and
Activity 5
27
Verification Activity 4
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Verification Activity 5
29
Activity 5 continued…
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Correcting and Preventing Findings
• Verification Incomplete,
Missing, Errors
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Reconciliation Worksheets
Finding: 3 – Title IV Accounts Not
Reconciled
32
Managing Funds – Fiscal Mgmt
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Reconciliation & Fiscal Mgmt
34
Reconciliation Worksheets
35
Fiscal year end worksheet
36
Management Enhancement
An
Action Identify compliance
Plan to: issues
Design a Corrective
Action Plan
37
Management Enhancement
Worksheet
38
Management Enhancement
Worksheet continued…
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Effective Practices
• Innovation – Effective Practices
• Opportunity to review a
successful practice reported by
one of your colleagues
• Opportunity to report a
successful practice to the
Department
40
FSA Assessments: Innovation
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Effective Practices
42
Current Effective Practices
43
Importance of Offices
Working Together
44
Summary
• If we can find it – so can you!
• Use the Assessments to fix problems
before the auditor or program
reviewer finds it
• Team Approach to the assessments
is critical
• Use the Management Enhancement
as a corrective action plan and track
progress
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Questions
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Contact Information
We appreciate your feedback and comments. We can be
reached at:
• Julie Arthur
• Phone: 206-615-2232
• Email: julie.arthur@ed.gov
• Fax: 206-615-2508
• David Bartlett
• Phone: 816-268-0434
• E-mail: david.bartlett@ed.gov
• Fax: 816-823-1402
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