# Presentation: 853361

## Session #13

**FSA Assessments:****An Opportunity to Improve Compliance**
- Julie Arthur
- David Bartlett

## What are the FSA Assessments?

**What are the FSA Assessments?**

**Prevent non-compliance**

**Identify compliance issues**

**Establish Action Planning steps to correct problems**

- Tools to:

## Why use the FSA Assessments?

- Ensure Title IV compliance
- Prepare for an audit
- Prepare for a program review
- Correct deficiencies and eliminate repeat findings
- Develop or update policies and procedures

## Standards for Participation

- Program Participation Agreement
- Factors of financial responsibility
- Standards of administrative capability

## 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

## 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

## Findings With Significant Liabilities

- Return of Title IV Funds
- Returns not Made
- Calculation Errors
- Made Late
- Verification Violations

## Findings With Significant Liabilities

- Account Records Inadequate/not Reconciled
- Inconsistent Information in Student File
- Lack of Administrative Capability

## Correcting and Preventing Findings

- Return of Title IV Funds (R2T4) Errors, Incomplete, Late, Missing
- Verification Incomplete, Missing, Errors
- Title IV Accounts Not Reconciled

## Where to find the Federal Student Aid Assessments

- _[http://ifap.ed.gov](http://ifap.ed.gov/)_** **

**Where to find the Federal Student Aid Assessments**

## Where to find the Federal Student Aid Assessments

**School Portal**
- _[http://FSA4schools.ed.gov](http://fsa4schools.ed.gov/)_

**Where to find the Federal Student Aid Assessments**

## The Redesign of the Assessments 

**The Redesign of the Assessments**** **

- New Look and Feel

- Introduce the New Policy and Procedure Assessment

## FSA Assessments – Four Categories

## FSA Assessments Chart

## FSA Assessments Chart

## Return of Title IV Funds (R2T4) Errors, Incomplete, Late, Missing

Verification Incomplete, Missing, Errors

Title IV Accounts Not Reconciled 

- Return of Title IV Funds (R2T4) Errors, Incomplete, Late, Missing
- Verification Incomplete, Missing, Errors
- Title IV Accounts Not Reconciled

**Correcting and Preventing Findings**

- Return of Title IV Funds (R2T4) Errors, Incomplete, Late, Missing
- Managing Funds - Review R2T4 	Assessment
- Policies and Procedures Assessment
- Policies and Procedures At a Glance
- Activities

**FSA Assessments – Policies and Procedures**

## Return of Title IV Funds

## Return of Title IV Funds 

## Getting Started Developing Policies and Procedures

## Getting Started with P & P

## P & P at a Glance

## P & P At a Glance

## Return of Title IV Funds (R2T4) Errors, Incomplete, Late, Missing

Verification Incomplete, Missing, Errors

Title IV Accounts Not Reconciled 

- Verification Incomplete, Missing, Errors
- Title IV Accounts Not Reconciled

**Correcting and Preventing Findings**

## FSA Assessments - Activities	

- Finding: 2 – Verification Incomplete
- Review Verification Assessment -  Students
- Policies and Procedures
- Activity 4: Resolving Conflicting Data
- Activity 5: Professional Judgment

## FSA Assessments – Verification

## Verification Activity 4 and Activity 5

## Verification Activity 4

**Verification Activity 4**

## Verification Activity 5

**Verification Activity 5**

## Activity 5 continued...

**Activity 5 continued...**

## Return of Title IV Funds (R2T4) Errors, Incomplete, Late, Missing

Verification Incomplete, Missing, Errors

Title IV Accounts Not Reconciled 

- Verification Incomplete, Missing, Errors
- Title IV Accounts Not Reconciled

**Correcting and Preventing Findings**

## Reconciliation Worksheets

- 	Finding: 3 – Title IV Accounts Not Reconciled
- Select Managing Funds – Fiscal Management
- Select Activity 1 – Reconciliation Worksheets
- Review Year End and Monthly Worksheet

## Managing Funds – Fiscal Mgmt

**Managing Funds – Fiscal Mgmt**

## Reconciliation & Fiscal Mgmt

## Reconciliation Worksheets

## Fiscal year end worksheet

## Management Enhancement

**Management Enhancement**

**Identify compliance issues**

**Assign the issue for correction**

**Design a Corrective Action Plan**

- An Action Plan to:

## Management Enhancement Worksheet

## Management Enhancement Worksheet continued...

## 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

## FSA Assessments: Innovation

## Effective Practices

## Current Effective Practices

## Importance of Offices Working Together

**“****It’s a fact that people working as a team can achieve better results than individuals working alone.”**

## 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

## Questions

## Contact Information

- 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

- We appreciate your feedback and comments. We can be reached at: