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Cycle of Compliance: A Roadmap to Institutional Efficiency

Learn the benefits and tools for institutional compliance and effectiveness. Understand FSA assessments, management enhancements, and effective practices. Access resources to sustain compliance and efficiency on campus.

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Cycle of Compliance: A Roadmap to Institutional Efficiency

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  1. Session 15 Self-Evaluation Tools to Jump Start and Sustain Your Cycle Of Compliance and Institutional Effectiveness Michael D. Cagle School Outreach Division, ASEDS

  2. Objectives • Explain the benefits for compliance • Demonstrate Activities, Management Enhancement Process and Effective Practices • Initiate Dialogue: How are the FSA Assessments being used? • Provide Next Steps to Sustain Compliance and Effectiveness on Campus

  3. What is Compliance? • The ability to reasonably ensure conformity and adherence to organization policies, plans, procedures, laws, regulations, and contracts.

  4. The ABCs of Compliance • Continuous • Opportunity • Meeting Regulatory Requirements • Policies & Procedures • Liabilities • Institutional • Accountability • Notification • Cycle • Enhancement

  5. What causes stress in your office? • Monitoring SAP? • Going through Recertification? • Conflicting Information? • Having an audit?

  6. What are the FSA Assessments? • A Self-Evaluation Tool that provides schools with: • An opportunity to assess policies and procedures and evaluate compliance at the school. • A mechanism to make corrective actions (Management Enhancements) and to share Effective Practices.

  7. Where are the FSA Assessments Located? • Available on the Schools Portal: • http://fsa4schools.ed.gov • Under Resources and Training, click FSA Self-Assessments • Also available on IFAP: • http://ifap.ed.gov • Under Tools For Schools, click on FSA Assessments

  8. How many FSA Assessments are Available? • FSA provides 22 assessments • Specific help with navigating the FSA Assessments can be found by accessing the following link: http://www.ifap.ed.gov/qamodule/guidance.html

  9. Scenario • Let’s review the school scenario.

  10. Questions we will answer • How did the school use the FSA Verification Assessment to confirm the issues? • What was the corrective action for the findings the school identified? • How did the school respond to the audit? • In what other ways did the school benefit from the FSA Assessments?

  11. Instructor Demonstration • Features of the Verification Assessment • Management Enhancement Form & Effective Practices Website • How the Hyperlinks work

  12. Back to the Scenario • What were the findings the school identified? • What were the findings the auditor identified? • What were the benefits of finding the issues before the auditor?

  13. The Benefits of the Management Enhancement Process • Provides a systematic approach to resolve findings • The Management Enhancement Form can be completed on-line and shared • The school can identify and resolve issues before they become serious problems • The school can be a step ahead of the audit process

  14. Effective Practices • Your school should strive to find issues to be resolved, but don’t forget to celebrate the good practices identified • The school in the scenario identified an Effective Practice to share

  15. The Management Enhancement Form and the Audit Process • Follow-up on the corrective action plan to ensure the new process is being implemented • Have a Compliance Team review areas identified for improvement • Make the Management Enhancement Process part of your school’s yearly plan for continuous improvement

  16. Participant Discussion • Have you used a particular assessment? • Have you used the Management Enhancement Process? • What Effective Practices do you have?

  17. Ways To use the FSA Assessments • Train new Staff in the Financial Aid Office • Find a regulatory citation or an FSA Handbook Reference • Conduct a file review • Review a policy or procedure • Develop Management Enhancement to address a weakness • Share an Effective Practice

  18. Some Final Points • The FSA Assessment process should be a school-wide effort • FSA assessments can help prevent compliance issues • FSA Assessments can be used as a Learning Tool • Consider Completing One Assessment/Activity per year • Consider Submitting an Effective Practice

  19. Next Steps: What to do when you get back to your campus • Review prior audit findings • Consider developing a compliance team • Complete Conflicting Data Activity #7

  20. Next Steps: What to do when you get back to your campus (Continued) • Complete Verification File Review Activity #10 • Complete Policies & Procedures Activity #1 • Complete Fiscal Management Activity #14

  21. Questions? We appreciate your feedback and comments. We can be reached at: • Email: Michael.Cagle@ed.gov or • qualityassurance@ed.gov

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