The objective of this audit was to determine whether Lincoln College of Technology (Lincoln) used the Student Aid (Assistance Listing Number (ALN) 84.425E) and Institutional (ALN 84.425F) portions of its Higher Education Emergency Relief Fund (HEERF) funds for allowable and intended purposes. The authors also reviewed Lincoln's cash management practices and the timeliness and quality of the data Lincoln reported on its use of HEERF funds. The audit covered Lincoln's HEERF expenditures, cash flows, and reporting from the grant award date through December 31, 2020. The audit found that Lincoln Educational Services Corporation (LESC) generally used the Student Aid portion of Lincoln's HEERF funds for allowable and intended purposes but did not always use the Institutional portion of its funds in accordance with Federal requirements. It was also determined that the information in Lincoln's required HEERF reports posted on LESC's website was generally accurate, complete, and timely. Following the presentation of these findings to LESC, LESC officials reallocated the amounts questioned to other expenditures they believed were eligible to be charged to Lincoln's Institutional grant.