Cycles plotted in the red sections of the model are considered to be high risk and, as such, the related deficiencies should be given urgent attention in terms of priority. Cycles plotted in the yellow sections are considered to have moderate risk, are considered to be important, and should be given second priority after the high risk cycles. Cycles plotted in the green section of the model are considered least risky and remediation efforts to address deficiencies in these cycles would be expected to be addressed during routine operations of the University.

We have developed the risk assessment around significant transaction cycles as a means by which the associated risks can be easily understood and managed. The cycles or areas that have been evaluated are:

■ Student Financial Aid - Disbursements (SFA-D)

■ Student Financial Aid - Return of Title IV Funds (SFA-R)

■ Student Financial Aid - Institutional Eligibility (SFA-IE)

■ General Controls (GC)

Land and Other Grants (G)

We will complete our risk assessment for the following cycles after the results of our work and related recommendations are evaluated with management:

Auxiliary Enterprises (AE)

Purchasing, Accounts Payable, and Disbursements (PA)

■ Travel and Entertainment (T&E)

Investments (I)

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