FAC Explorer

Audit 10934

FY End
2023-06-30
Total Expended
$10.47M
Findings
2
Programs
5
Organization: Tennessee Wesleyan University (TN)
Year: 2023 Accepted: 2024-01-11
Auditor: Henderson Hutcherson McCullough PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
8267 2023-001 Significant Deficiency - N
584709 2023-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $6.86M Yes 1
84.063 Federal Pell Grant Program $1.92M Yes 0
84.425 Education Stabilization Fund $1.55M Yes 0
84.033 Federal Work-Study Program $75,041 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $64,951 Yes 0

Contacts

Name Title Type
RPMVMD9MVJV4 Gail Harris Auditee
4237465208 Adam Osborne Auditor
No contacts on file

Notes to SEFA

Title: Subrecipients Accounting Policies: Note 3 Summary of Significant Accounting Policies - Expenditures reported on the schedule are reported on the accrual basis of accounting. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Univeristy did not provide federal awards to sub reciptents.

Finding Details

Finding 2023-001
The Univeristy lacks verifiable controls to ensure student receiving financial aid are notified of their aid and disbursement details prior to the student receiving said disbursements.
Finding 2023-001
The Univeristy lacks verifiable controls to ensure student receiving financial aid are notified of their aid and disbursement details prior to the student receiving said disbursements.