Audit Committee Materials - March 13 2018-no page # Background Image
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Institution Report Release

Date

Recommendation

Responsible

Staff

Date

Management’s

Actions to be

Implemented

Revised Date

Management’s

Actions to be

Implemented

# of Changes to

Date

Management's

Actions to be

Implemented

Initial Date of

Internal Audit

Follow-up

Most Recent

Date of Internal

Audit Follow-up

Status

Covington

3-Mar-16 Focused Review of Operations - Covington

Account with collection agency should be established

The procedures used for collections by the school do not

comply with the TBR Guideline.

Director

1-Jul-16

29-Dec-17

1

10-Oct-16

27-Oct-17

Action

Completed

Ripley

1-Jun-16 The procedures used for collections by the school do not

comply with the TBR Guideline.

Sue McBroom,

Fiscal and HR

Coordinator and

Robbie Camara,

Account Clerk II

30-Jun-16

1-Jul-16

1

7-Nov-16

Action

Completed

Covington

3-Mar-16 Focused Review of Operations - Covington

Management's review of the accounts receivable reconciliation

is not documented by signing and dating the reconciliation.

Director

1-Jul-16

29-Dec-17

1

10-Oct-16

In Progress

Covington

3-Mar-16 Focused Review of Operations - Covington - Management has

used an alternative method of sending 1 collection letter with

all the required data in the past, which is allowed if collection

efforts are not compromised. The current student receivable

balance, $69,904.00, is material and sending only 1 debt

notification letter could be a factor.

Debra Johnson,

30-Jun-16

29-Dec-17

2

10-Oct-16

In Progress

McKenzie

11-Nov-14 Focused Review: Observation 3 of 3: TBR Guideline allowing

fexibility in collection procedures of sending letters at 45 day

intervals is not documented in the college's internal procedures.

Director

31-Dec-15

29-Dec-17

1

3-Feb-17

In Progress

Memphis

9-Jan-15 Focused Review: Observation 2 of 2: Financial Aid must receive

notice or have access to the report system to ensure the return

of Title IV funds are made within the required 45 days.

Director

30-Jun-15

29-Dec-17

2

1-Nov-16

In Progress

Ripley

1-Jun-16 Managements review of the accounts receivable reconciliation

is not documented by signing and dating the reconciliation.

Sue McBroom,

Fiscal and HR

Coordinator and

Robbie Camara,

Account Clerk II

30-Jun-16

1-Jul-16

1

7-Nov-16

In Progress

Ripley

26-May-17 Three of 10 (30%) student files tested for compliance with

consumer information, including FERPA, the orientation

checklists were missing or not signed by the students to

document agreement in accordance with federal regulations.

Financial Aid

1-Dec-16

0

30-Jun-17

Not Yet Due

TBR SWIA - Status Report on Internal Audit Recommendations- TCAT

(Reports sorted by Status, Institution, Report Release Date)

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