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ED - A20CA0017 - 3.1

Closed · 2021-09-28

From report

Report
Remington College’s Use of Higher Education Emergency Relief Fund Student Aid and Institutional Grants
OIG report number
A20CA0017
Recommendation number
3.1

Recommendation text

Require Remington College to incorporate in its policies and procedures for managing Institutional grant funds the Federal cash management requirements related to minimizing the time between drawing down and spending Federal grant funds, including HEERF funds; maintaining the funds in an interest-bearing account; and remitting interest earned in excess of $500 in accordance with 2 C.F.R. § 200.305(b).