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 terms: Audits and Program Reviews; Disbursement; Financial Responsibility; Recordkeeping
See top list entry for Federal Work-Study Program (FWS) and Federal Supplemental Educational Opportunity Grant Program (FSEOG).