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Recommendation Details
Text of Recommendation
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).
Recommendation Number
3.1
Recommendation Status
Open
Significant Recommendation
Yes
Recommendation Questioned Costs
$0
Recommendation Funds for Better Use
$0