Schools must establish and maintain financial records of Title IV transactions, and accounting and internal control systems for Title IV funds. Cash management includes the drawdown and maintenance of Title IV funds destined for student recipients. Certain standards are defined by regulation to ensure proper accountability for these public funds.
Related topics in this Index: Audits and Program Reviews; Disbursement; Financial Responsibility; Recordkeeping
U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part A—Grants to Students in Attendance at Institutions of Higher Education, Subpart 9—TEACH Grants § 1070g Definitions [HEA § 420L]
U.S. Code, Title 20—Education Chapter 28—Higher Education Resources and Student Assistance Subchapter IV—Student Assistance > Part G—General Provisions Relating to Student Assistance Programs § 1094(a)(19) Program participation agreements [HEA § 487(a)(19)]