Audit 20116

FY End
2022-06-30
Total Expended
$11.06M
Findings
26
Programs
5
Year: 2022 Accepted: 2023-03-29

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
24049 2022-001 Significant Deficiency Yes E
24050 2022-002 Material Weakness Yes L
24051 2022-003 Material Weakness Yes L
24052 2022-004 Material Weakness Yes L
24053 2022-002 Material Weakness Yes L
24054 2022-003 Material Weakness Yes L
24055 2022-004 Material Weakness Yes L
24056 2022-002 Material Weakness Yes L
24057 2022-003 Material Weakness Yes L
24058 2022-004 Material Weakness Yes L
24059 2022-002 Material Weakness Yes L
24060 2022-003 Material Weakness Yes L
24061 2022-004 Material Weakness Yes L
600491 2022-001 Significant Deficiency Yes E
600492 2022-002 Material Weakness Yes L
600493 2022-003 Material Weakness Yes L
600494 2022-004 Material Weakness Yes L
600495 2022-002 Material Weakness Yes L
600496 2022-003 Material Weakness Yes L
600497 2022-004 Material Weakness Yes L
600498 2022-002 Material Weakness Yes L
600499 2022-003 Material Weakness Yes L
600500 2022-004 Material Weakness Yes L
600501 2022-002 Material Weakness Yes L
600502 2022-003 Material Weakness Yes L
600503 2022-004 Material Weakness Yes L

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $4.61M Yes 4
84.063 Federal Pell Grant Program $2.25M Yes 3
84.425 Education Stabilization Fund $1.95M Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $138,638 Yes 3
84.033 Federal Work-Study Program $18,144 Yes 3

Contacts

Name Title Type
KGSKYSPJZBN3 Sena Landey Auditee
7063851017 Chad Lassen, CPA Auditor
No contacts on file

Notes to SEFA

Title: FEDERAL LOANS DISBURSED Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal awardactivity of Point University (the University) and is presented on the accrual basis ofaccounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance), therefore, some amounts presented in this schedule may differ from amountspresented in, or used in the preparation of, the basic consolidated financial statements.There were no noncash awards in the current year. The University has elected not to usethe 10% de minimum indirect cost rate for allocation. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The University participates in the Federal Direct Loan Program, including Federal StaffordLoans (Stafford) and Federal PLUS Loans (PLUS). The dollar amounts are listed in theschedule of expenditures of federal awards, although the University is not the recipient ofthe funds. Such programs are considered a component of the student financial assistancecluster. Loans processed by the University under this Loan Program were the following forthe year ended June 30, 2022Federal Stafford Loans:Subsidized $ 1,818,865Unsubsidized 2,144,199Direct PLUS Loans 648,859Total Federal Direct Loans $ 4,611,923
Title: SUBRECIPIENTS, NONCASH ASSISTANCE, FEDERAL INSURANCE, LOANS, AND LOAN GUARA Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal awardactivity of Point University (the University) and is presented on the accrual basis ofaccounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance), therefore, some amounts presented in this schedule may differ from amountspresented in, or used in the preparation of, the basic consolidated financial statements.There were no noncash awards in the current year. The University has elected not to usethe 10% de minimum indirect cost rate for allocation. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The University did not provide any federal funds to sub recipients nor did they receive anyfederal noncash assistance, insurance, loans, or loan guarantees.

Finding Details

2022-001 Federal Agency: Department of Education Federal Program Title: Federal Direct Loan Program Assistance Listing Number: 84.268 Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.203(a) outlines the maximum subsidized and unsubsidized loan amounts for students based on their dependency status, year of education, and other factors. Condition: We identified 1 student that received aid more than their respective cost of attendance. Questioned costs: Known costs of approximately $7,312. Context: Instances of noncompliance noted above in our sample of 60 students tested. Cause: Consistent turnover in the financial aid office within recent years had likely led to a disconnect with regard to controls in place to appropriately package and review students' financial aid during this period. Effect: Potential incorrect awarding and unfulfilled financial need of students in similar circumstances. Repeat Finding: Yes ? 2021-002. Recommendation: We recommend that the University ensures they have appropriate policies and procedures, as well as safeguards in place to ensure loan eligibility is correctly determined. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-001 Federal Agency: Department of Education Federal Program Title: Federal Direct Loan Program Assistance Listing Number: 84.268 Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Significant Deficiency in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.203(a) outlines the maximum subsidized and unsubsidized loan amounts for students based on their dependency status, year of education, and other factors. Condition: We identified 1 student that received aid more than their respective cost of attendance. Questioned costs: Known costs of approximately $7,312. Context: Instances of noncompliance noted above in our sample of 60 students tested. Cause: Consistent turnover in the financial aid office within recent years had likely led to a disconnect with regard to controls in place to appropriately package and review students' financial aid during this period. Effect: Potential incorrect awarding and unfulfilled financial need of students in similar circumstances. Repeat Finding: Yes ? 2021-002. Recommendation: We recommend that the University ensures they have appropriate policies and procedures, as well as safeguards in place to ensure loan eligibility is correctly determined. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?002 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.301(a)(2)(iii) outlines that an institution must provide the anticipated and actual disbursements dates of loan proceeds. In addition, The Code of Federal Regulations, 34 CFR 690.83(b)(2) outlines that an institution must provide the other information (Disbursement information for Pell) in an appropriate manor. Condition: Disbursement dates recorded on student accounts for Direct Loan and Pell disbursements did not agree to the disbursement date reported to Common Origination and Disbursement (COD). Questioned costs: Unknown as incorrect dates ultimately affect interest on Direct Loans. Context: In 44 of the 60 students tested, we noted discrepancies in disbursement dates when comparing disbursements dates in Campus Nexus to what was ultimately reported to COD. We also noted 1 discrepancy in which the applied date and the disbursement date within COD were not within the 15 day requirement. Cause: Lack of appropriate policy and procedure in place regarding reporting of students to COD for the year under audit. Effect: Noncompliance with federal regulations which could lead to incorrect repayment terms for students. Repeat Finding: Yes ? 2021-003. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting to COD. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022?003 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.309 (b) outlines that upon receipt of the Enrollment report from the Secretary a school must update all information included in the report to the secretary within the manner and format prescribed and within the time frame prescribed by the secretary (15 days). Condition: The University is consistently updating NSLDS records for students in a manual fashion but does not ensure that roster files are updated completely and timely. There were 10 roster distributions tested and subsequent to each distribution a portion but not all of the roster error records were resubmitted within the 10-day requirement of receiving the distribution. During further testing of NSDLS reporting, we did not see a significant rate of late reporting (per 34 CFR 685.309(b)(2)) which indicates that most enrollment information is not being reported appropriately. Questioned costs: Unknown. Context: 10 out of 10 Enrollment Rosters Delivered to Academy during year under audit. Cause: Lack of appropriate policy and procedure in place regarding enrollment roster certifying for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-004. Recommendation: We recommend that the University review their policies and procedures to ensure accurate reporting and responding to Enrollment rosters disbursed to the university. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.
2022-004 Federal Agency: Department of Education Federal Program Title: Student Financial Aid Cluster Assistance Listing Number: Various Award Period: July 1, 2021, through June 30, 2022 Type of Finding: Material Weakness in Internal Control over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless if they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the Campus-Level and the Program-Level as well as the program begin date. In addition, at a minimum, schools are required to certify enrollment every 60 days, and respond within 15 days of the date that NSLDS sends a Roster file to the school or its third-party servicer. Condition: Incorrect or untimely reporting by the University of Students? Changes in status during the 2020-2021 award year under audit. Questioned costs: Unknown. Context: Out of the 17 students tested noted 1 or more discrepancies, as follows: ? 2 students? status was incorrectly reported to NSDLS. ? 11 students? enrollment effective date were not reported correctly to NSLDS. ? At the program level, 12 students? enrollment effective rate did not agree to institution?s records. ? At the program level, 2 students? enrollment status did not match the enrollment status per NSLDS campus level status. ? At the program level, 1 student?s enrollment status did not agree to institution?s records. ? 5 students? enrollment status change was not reported to NSLDS within 60 days. ? Enrollment roster was not certified within 60 days for the periods (10/24/2021-04/30/2022) Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Effect: Noncompliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes ? 2021-005. Recommendation: We recommend that the University review their enrollment reporting policies and procedures to ensure accurate reporting. Views of responsible officials: There is no disagreement with the audit finding. Management has addressed their corrective action plan in a separately issued letter.