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Recommendation Details
Text of Recommendation
We recommend that the Assistant Secretary for the Office of Postsecondary Education require LESC to incorporate in its policies and procedures the cash management requirements for minimizing the time between drawing down and disbursing Federal grant funds, including HEERF funds, maintaining the funds in an interest-bearing account, and remitting interest earned more than $500 in accordance with 2 C.F.R. § 200.305(b).
Recommendation Number
3.1
Recommendation Status
Open
Significant Recommendation
Yes
Recommendation Questioned Costs
$0
Recommendation Funds for Better Use
$0