Tarrant County College District

Section III. Federal Award Findings and Questioned Costs Finding 2023-002: Using a Servicer or Financial Institution to Deliver Title IV Credit Balances Type of finding: Significant Deficiency in Internal Controls over Compliance and Compliance Major Program: Student Financial Assistance Cluster Questioned Cost: $0 Criteria 34 CFR 668.164 sets forth the criteria for required disclosures regarding arrangements or contracts made with servicers or financial institutions used to make direct payments of Title IV credit balances to students through electronic fund transfer to a bank account designated by the student or parent or to issue a check payment to the student, to use an access device to access those funds. Condition The District failed to provide required information to the Department of Education an up-to-date URL for the contract with the servicer or financial institution for publication in a centralized database accessible to the public. Cause The District was unaware of the requirement to submit this information to the Department of Education. Effect The failure to provide required information to the Department of Education resulted in the exclusion of the District in the centralized database made accessible to the public. Recommendation We recommend the District identify the responsible party to oversee that the required information is sent to the Department of Education. Status See Corrective Action Plan noted as the District’s response to finding 2023-002.