FAC Explorer

Audit 13431

FY End
2023-06-30
Total Expended
$58.32M
Findings
2
Programs
12
Organization: Concordia University, Inc. and Affiliate (WI)
Year: 2023 Accepted: 2024-01-24
Auditor: Sikich LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
9675 2023-001 - - E
586117 2023-001 - - E

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $51.90M Yes 1
84.063 Federal Pell Grant Program $4.22M Yes 0
84.031 Title 3, Part A Higher Education Institutional Aid $594,064 - 0
93.732 Mental and Behavioral Health Education and Training Grants $445,119 - 0
84.007 Federal Supplemental Educational Opportunity Grants $407,785 Yes 0
84.033 Federal Work-Study Program $375,000 Yes 0
93.884 Grants for Primary Care Training and Enhancement $148,560 - 0
93.859 Biomedical Research and Research Training $71,852 - 0
84.379 Federal Teacher Education Assistance for College and Higher Education Grants $65,975 Yes 0
93.350 National Center for Advancing Translational Sciences $57,303 - 0
47.070 Nsf Computer and Information Science and Engineering $21,490 - 0
93.279 Drug Abuse and Addiction Research Programs $11,693 - 0

Contacts

Name Title Type
U4LEMWXKEJY6 Danielle Marsh Auditee
2622432033 Ray Krouse Auditor
No contacts on file

Notes to SEFA

Title: NOTE 2- LOAN PROGRAMS Accounting Policies: The accompanying schedule of expenditures of federal and state awards ("the schedule") include federal and state award activity of Concordia University ("the University") under programs of the federal and state government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit Guidelines. Because the schedule presents only a selected portion of the operations of the University, it is not intended to and does not present the financial position, changes in net assets or cash flows of the University. De Minimis Rate Used: N Rate Explanation: The University did not elect to use the 10% de minimus indirect cost rate. During the year ended June 30, 2023, students and their parents were awarded $51,899,028 of federally guaranteed loans under the Federal Direct Student Loans program. The University is responsible only for the performance of certain administrative duties with respect to the federally guaranteed direct student loan programs and, accordingly, balances and transactions relating to the Federal Direct Student Loan program are not included in the University’s basic consolidated financial statements. Therefore, it is not practical to determine the balances of the loans outstanding to students and former students of the University at June 30, 2023.
Title: NOTE 3 - OTHER Accounting Policies: The accompanying schedule of expenditures of federal and state awards ("the schedule") include federal and state award activity of Concordia University ("the University") under programs of the federal and state government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit Guidelines. Because the schedule presents only a selected portion of the operations of the University, it is not intended to and does not present the financial position, changes in net assets or cash flows of the University. De Minimis Rate Used: N Rate Explanation: The University did not elect to use the 10% de minimus indirect cost rate. The University did not receive any noncash federal awards, nor receive any federal insurance and did not provide funds to any sub-recipients.

Finding Details

Finding 2023-001
Criteria: According to 34 CFR 685.203 an eligible dependent student in their first year of school can borrow up to $3,500 in Subsidized Direct Loans and $2,000 in Unsubsidized Direct Loans. Condition: During our student file testing we noted one student out of forty was disbursed the incorrect Direct Loan amount. Based on the student’s enrollment status and need this student was eligible for $926 in Subsidized Loans and $4,574 in Unsubsidized Loans; however, the College awarded the student $230 in Subsidized loans and $5,270 in Unsubsidized loans which resulted in an under award of $696 in Subsidized Loans and an over award of $696 in Unsubsidized Loans. We consider this error in awarding to be an instance of noncompliance of the Eligibility Compliance Requirement. Statistical sampling was not used when making sample selections. Questioned Costs: $0 Effect: A student was under awarded Subsidized Direct Loans in the amount of $696 and over awarded Unsubsidized Direct loans in the amount of $696. Cause: The College’s internal controls did not identify the fact that the student was under awarded Subsidized Direct Loans in the amount of $696 and over awarded Unsubsidized Direct loans in the amount of $696. Recommendation: We recommend the College closely monitor all students who receive direct loans and verify that they receive the proper amount of Subsidized and Unsubsidized Direct Loans. Views of Responsible Officials: Management agrees with this finding and response is included in Corrective Action Plan.
Finding 2023-001
Criteria: According to 34 CFR 685.203 an eligible dependent student in their first year of school can borrow up to $3,500 in Subsidized Direct Loans and $2,000 in Unsubsidized Direct Loans. Condition: During our student file testing we noted one student out of forty was disbursed the incorrect Direct Loan amount. Based on the student’s enrollment status and need this student was eligible for $926 in Subsidized Loans and $4,574 in Unsubsidized Loans; however, the College awarded the student $230 in Subsidized loans and $5,270 in Unsubsidized loans which resulted in an under award of $696 in Subsidized Loans and an over award of $696 in Unsubsidized Loans. We consider this error in awarding to be an instance of noncompliance of the Eligibility Compliance Requirement. Statistical sampling was not used when making sample selections. Questioned Costs: $0 Effect: A student was under awarded Subsidized Direct Loans in the amount of $696 and over awarded Unsubsidized Direct loans in the amount of $696. Cause: The College’s internal controls did not identify the fact that the student was under awarded Subsidized Direct Loans in the amount of $696 and over awarded Unsubsidized Direct loans in the amount of $696. Recommendation: We recommend the College closely monitor all students who receive direct loans and verify that they receive the proper amount of Subsidized and Unsubsidized Direct Loans. Views of Responsible Officials: Management agrees with this finding and response is included in Corrective Action Plan.