FAC Explorer

Audit 1636

FY End
2022-12-31
Total Expended
$5.77M
Findings
6
Programs
5
Organization: Helene Fuld College of Nursing (NY)
Year: 2022 Accepted: 2023-10-27
Auditor: Uhy LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
854 2022-001 - - N
855 2022-002 - Yes L
856 2022-002 - Yes L
577296 2022-001 - - N
577297 2022-002 - Yes L
577298 2022-002 - Yes L

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $3.77M Yes 2
84.063 Federal Pell Grant Program $1.08M Yes 1
84.425 Education Stabilization Fund $492,365 - 0
84.116 Fund for the Improvement of Postsecondary Education $322,767 - 0
84.007 Federal Supplemental Educational Opportunity Grants $41,680 Yes 0

Contacts

Name Title Type
MC23PJ42QMD4 Roger Anderson Auditee
2126167270 Michael Burke Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported when incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Helene Fuld College of Nursing under programs of the federal government for the year ended December 31, 2022. 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). Because this schedule presents only a selected portion of the operations of Helene Fuld College of Nursing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Helene Fuld College of Nursing.
Title: Payments to Subrecipients Accounting Policies: Expenditures reported on the Schedule are reported when incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. For federal awards received during the year ended December 31, 2022, there were no payments made to subrecipients.
Title: Federal Direct Student Loans Program Accounting Policies: Expenditures reported on the Schedule are reported when incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The College participates in the Direct Loan Program. New loans under the Direct Loan Program totaled $4,889,102 for the year ended December 31, 2022. The College does not have any continuing administrative or compliance responsibilities for the Direct Loan Program once the student completes the associated semester.

Finding Details

Finding 2022-001
Finding Number 2022-001 CFDA Number: 84.268 Federal Direct Student Loans Criteria: Per 2 eCFR section 685.300, indicates that an institution must certify that the amount of the loan for any student is not in excess of the annual limit applicable for that loan program and that the amount of the loan, in combination with previous loans by the borrower, is not in excess of the aggregate limit for that loan program and must set forth a schedule for disbursement for the proceeds of the loan in installments Condition: During 2022, two students were awarded federal loans for the 2022-2023 academic year in excess of their aggregate limits. The over-awards were divided evenly among the three terms of the academic year. As such, the College did not set forth a schedule for disbursement for the proceeds of the loan in installments. There was no review performed over the awarding of the aid. This was self-identified by management and self-corrected. Since the over awards were discovered, the College has changed the process so that an external consultant reviews all files and makes preliminary award decisions. The consultant reviewed 189 files, noting no additional over awards. Additionally, the VP of Student Services now reviews all awards. Cause: The College’s staff in the financial aid office was not adequately trained to recognize flags raised by the College’s tracking software Effect: Two students received loans for more than they were authorized to receive. Prevalence: This is an isolated incident as the College has reviewed disbursements made to 189 students and discovered no additional instances of an over-award.
Finding 2022-002
Finding Number 2022-002 CFDA Number: 84.063 Federal Pell Grant Program, 84.268 Federal Direct Student Loans Criteria: Institutions are required to report enrollment information under Pell grant and Direct Loan programs to the NSLDS in the form of Enrollment Reporting Roster files. At a minimum, schools are required to certify enrollment within 60 days. Condition: For 1 out of 28 students tested from January 1, 2022 to July 19, 2022 , the student’s change in enrollment status was not reported timely to NSLDS. Cause: The College did not have a procedure in place to ensure submission every 60 days. Effect: The College was not in compliance with federal regulations. Prevalence: 1 out of 28 students tested from January 1, 2022 to July 19, 2022 was not timely reported.
Finding 2022-002
Finding Number 2022-002 CFDA Number: 84.063 Federal Pell Grant Program, 84.268 Federal Direct Student Loans Criteria: Institutions are required to report enrollment information under Pell grant and Direct Loan programs to the NSLDS in the form of Enrollment Reporting Roster files. At a minimum, schools are required to certify enrollment within 60 days. Condition: For 1 out of 28 students tested from January 1, 2022 to July 19, 2022 , the student’s change in enrollment status was not reported timely to NSLDS. Cause: The College did not have a procedure in place to ensure submission every 60 days. Effect: The College was not in compliance with federal regulations. Prevalence: 1 out of 28 students tested from January 1, 2022 to July 19, 2022 was not timely reported.
Finding 2022-001
Finding Number 2022-001 CFDA Number: 84.268 Federal Direct Student Loans Criteria: Per 2 eCFR section 685.300, indicates that an institution must certify that the amount of the loan for any student is not in excess of the annual limit applicable for that loan program and that the amount of the loan, in combination with previous loans by the borrower, is not in excess of the aggregate limit for that loan program and must set forth a schedule for disbursement for the proceeds of the loan in installments Condition: During 2022, two students were awarded federal loans for the 2022-2023 academic year in excess of their aggregate limits. The over-awards were divided evenly among the three terms of the academic year. As such, the College did not set forth a schedule for disbursement for the proceeds of the loan in installments. There was no review performed over the awarding of the aid. This was self-identified by management and self-corrected. Since the over awards were discovered, the College has changed the process so that an external consultant reviews all files and makes preliminary award decisions. The consultant reviewed 189 files, noting no additional over awards. Additionally, the VP of Student Services now reviews all awards. Cause: The College’s staff in the financial aid office was not adequately trained to recognize flags raised by the College’s tracking software Effect: Two students received loans for more than they were authorized to receive. Prevalence: This is an isolated incident as the College has reviewed disbursements made to 189 students and discovered no additional instances of an over-award.
Finding 2022-002
Finding Number 2022-002 CFDA Number: 84.063 Federal Pell Grant Program, 84.268 Federal Direct Student Loans Criteria: Institutions are required to report enrollment information under Pell grant and Direct Loan programs to the NSLDS in the form of Enrollment Reporting Roster files. At a minimum, schools are required to certify enrollment within 60 days. Condition: For 1 out of 28 students tested from January 1, 2022 to July 19, 2022 , the student’s change in enrollment status was not reported timely to NSLDS. Cause: The College did not have a procedure in place to ensure submission every 60 days. Effect: The College was not in compliance with federal regulations. Prevalence: 1 out of 28 students tested from January 1, 2022 to July 19, 2022 was not timely reported.
Finding 2022-002
Finding Number 2022-002 CFDA Number: 84.063 Federal Pell Grant Program, 84.268 Federal Direct Student Loans Criteria: Institutions are required to report enrollment information under Pell grant and Direct Loan programs to the NSLDS in the form of Enrollment Reporting Roster files. At a minimum, schools are required to certify enrollment within 60 days. Condition: For 1 out of 28 students tested from January 1, 2022 to July 19, 2022 , the student’s change in enrollment status was not reported timely to NSLDS. Cause: The College did not have a procedure in place to ensure submission every 60 days. Effect: The College was not in compliance with federal regulations. Prevalence: 1 out of 28 students tested from January 1, 2022 to July 19, 2022 was not timely reported.