FAC Explorer

Audit 17306

FY End
2022-06-30
Total Expended
$2.65M
Findings
8
Programs
7
Organization: Pennsylvania Academy of the Fine Arts (PA)
Year: 2022 Accepted: 2023-03-17
Auditor: Tait Weller & Baker LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
12596 2022-001 - - L
12597 2022-001 Material Weakness - L
12598 2022-001 - - L
12599 2022-001 - - L
589038 2022-001 - - L
589039 2022-001 Material Weakness - L
589040 2022-001 - - L
589041 2022-001 - - L

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $1.67M Yes 1
84.425 Education Stabilization Fund $288,642 - 0
84.063 Federal Pell Grant Program $202,825 Yes 1
84.033 Federal Work-Study Program $44,381 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $13,125 Yes 1
45.301 Museums for America $12,000 - 0
45.024 Promotion of the Arts_grants to Organizations and Individuals $12,000 - 0

Contacts

Name Title Type
RWXKJL2J4KL7 Maryanne Murphy Auditee
2159722097 Karen Vento Auditor
No contacts on file

Notes to SEFA

Title: NOTE 3 Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. 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). THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS IN OR USED IN THE PREPARATION OF THE GENERAL-PURPOSE STATEMENTS. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. PAFA DID NOT PASS ANY AWARDS THROUGH TO SUBRECIPIENTS
Title: NOTE 4 MATCHING CONTRIBUTIONS Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. 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). THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS IN OR USED IN THE PREPARATION OF THE GENERAL-PURPOSE STATEMENTS. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. THE AMOUNTS REPORTED IN THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS DO NOT INCLUDE MATCHING CONTRIBUTIONS MADE BY PAFA. PAFA MADE MATCHING CONTRIBUTIONS OF $4,375 TO THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM AND FEDERAL WORK-STUDY PROGRAM $14,794. TOTAL MATCHING CONTRIBUTIONS $19,169
Title: NOTE 5 FEDERAL DIRECT STUDENT LOANS Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. 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). THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS IN OR USED IN THE PREPARATION OF THE GENERAL-PURPOSE STATEMENTS. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. THE FEDERAL DIRECT STUDENT LOANS (FEDERAL CFDA NUMBER 84.268) ARE COMPRISED OF THE FOLLOWING TYPE OF LOANS:PLUS LOANS - $482,548; STAFFORD LOANS - $252,182; AND UNSUBSIDIZED STAFFORD LOANS - $939,358 - TOTAL FEDERAL DIRECT STUDENT LOANS - $1,674,088.

Finding Details

Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.
Finding 2022-001
SECTION III Federal Award Findings and Questioned Costs Finding 2022-001: Special Reporting Federal Program: Student Financial Aid Cluster Federal Agency: Department of Education CFDA Number: 84.007, 84.063, 84.268, 84.033 Criteria: The Academy is required to submit the Fiscal Operations Report and Application to Participate(FISAP) annually to receive funds for the campus-based programs. Condition: The Academy incorrectly reported the Federal Supplemental Educational Opportunity Grant, Federal Work Study awards and information on enrollment in the FISAP submitted to the Department of Education. Additionally, several required sections of the FISAP were not completed. Questioned Costs: None Cause: During the current fiscal year, the financial aid office had turnover of key employees responsible for preparing the reports used to generate FISAP reporting. As noted below, procedures are being established to comply with the reporting requirements going forward. Effect: The Academy did not operate in accordance with the special reporting compliance requirement. Perspective Information: We consider the audit finding to be an isolated instance. The Academy has a strong history of compliance with the reporting requirements of the Student Financial Aid Cluster of programs. Identification of Repeat Findings: This is not a repeat finding. Recommendation: The Academy should develop procedures to have the financial aid and financial accounting information systems reconciled on a monthly basis. These reconciliation will ensure accurate reporting during periods of turnover of key personnel. Views of Responsible Officials and Planned Corrective Actions: We agree with the finding. As of January 2023, we have incorporated and communicated the updates to our policy and procedures to ensure both information systems are reconciled monthly, as well as maintaining appropriate documentation as assigned to both the Finance Department and the Financial Aid Manager.