FAC Explorer

Audit 208

FY End
2023-06-30
Total Expended
$31.72M
Findings
6
Programs
9
Organization: St. Ambrose University (IA)
Year: 2023 Accepted: 2023-10-10
Auditor: Rsm US LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
126 2023-001 Significant Deficiency - N
127 2023-002 Significant Deficiency - N
128 2023-001 Significant Deficiency - N
576568 2023-001 Significant Deficiency - N
576569 2023-002 Significant Deficiency - N
576570 2023-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $8.04M Yes 1
84.063 Federal Pell Grant Program $2.95M Yes 1
84.038 Federal Perkins Loan Program $869,014 Yes 0
84.033 Federal Work-Study Program $356,000 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $108,360 Yes 0
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $95,706 - 0
93.846 Arthritis, Musculoskeletal and Skin Diseases Research $53,091 - 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $45,264 Yes 0
84.425 Education Stabilization Fund $7,061 - 0

Contacts

Name Title Type
F6LJRCDFCVT7 Mike Poster Auditee
5633336329 Anna Kyer Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles as contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of St. Ambrose University under programs of the federal 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). Because the Schedule presents only a selected portion of the operations of St. Ambrose University, it is not intended to and does not present the financial position, changes in net assets or cash flows of St. Ambrose University.
Title: Federal Student Loan Program Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles as contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. During the fiscal year ended June 30, 2023, St. Ambrose University issued new loans to students under the Federal Direct Student Loan Program (FDLP). The loan program includes subsidized and unsubsidized Stafford Loans, Parent PLUS Loans and PLUS Loans for students. The value of loans issued for the FDLP is based on disbursed amounts. The loan amounts issued during the year are disclosed on the Schedule. St. Ambrose University is responsible only for the performance of certain administrative duties with respect to the federally guaranteed student loan programs and, accordingly, balances and transactions relating to these loan programs are not included in St. Ambrose University’s financial statements. Therefore, it is not practicable to determine the balance of loans outstanding to students and former students of St. Ambrose University at June 30, 2023. In addition, St. Ambrose University participates in the Federal Perkins Loan Program through the Department of Education. This loan program is directly administered by St. Ambrose University and is considered a revolving loan program whereby collections received on past loans, including interest, are loaned out to current students. The beginning balance on these loans is disclosed in the Schedule. The outstanding balance at June 30, 2023 was $572,289. No new loans were issued through the Federal Perkins Loan Program during the year ended June 30, 2023.

Finding Details

Finding 2023-001
2023-001 - Enrollment Reporting U.S. Department of Education Student Financial Assistance Programs Cluster Federal Direct Loan Program (ALN 84.268) Federal Award Year: 2023 Finding: The University did not accurately or timely report enrollment changes to the National Student Loan Data System (NSLDS). Criteria: Per 34 CFR 685.309(b), “unless it [the University] expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a school must notify the Secretary within 30 days if it discovers that a loan under Title IV was made to or on behalf of a student who was enrolled or accepted for enrollment at the school, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended.” Per 34 CFR 685.305(c), the University shall use the date determined for the withdrawal date as the date reported to the Secretary. Condition: One student who had withdrawn from the University initially had their status reported as half-time to the NSLDS. Cause: A manual update to the student’s reported status was required but was not made. Effect: Noncompliance with federal regulations over enrollment reporting. Repeat findings may cause concern over administrative capability. Questioned Costs: None. Context: One out of 25 students with status changes tested were not reported accurately or timely to NSLDS. Repeat Finding: Not applicable. Recommendation: We recommend the University implement procedures to properly review and ensure reporting to the NSLDS is accurate and timely. Management Response: Management agrees with the finding.
Finding 2023-002
2023-002 - Disbursements to or on Behalf of Students U.S. Department of Education Student Financial Assistance Programs Cluster Federal Pell Grant Program (ALN 84.063) Federal Award Year: 2023 Finding: The University did not timely disburse a Pell grant to an eligible student within the payment period. Criteria: Per 34 CFR 668.164(b)(1), “an institution must disburse during the current payment period the amount of title IV, HEA program funds that a student enrolled at the institution, or the student's parent, is eligible to receive for that payment period.” The payment period is defined as a semester for the University. Condition: One student had Pell grant funds disbursed after the relevant semester. The correct amount of Pell grant funds was disbursed to the student over the course of the full academic year. Cause: The student underwent verification which resulted in a delay in disbursements. Verification process was completed within the payment period but a disbursement was not made timely due to the manual process required for this payment. Effect: Noncompliance with federal regulations over disbursements to students. Repeat findings may cause concern over administrative capability. Questioned Costs: None. Context: One out of 25 students with Pell disbursements tested did not have awarded funds disbursed timely. Repeat Finding: Not applicable. Recommendation: We recommend the University implement procedures to properly review and ensure timely disbursements to all students, including those with delayed disbursements due to verifications. Management Response: Management agrees with the finding.
Finding 2023-001
2023-001 - Enrollment Reporting U.S. Department of Education Student Financial Assistance Programs Cluster Federal Direct Loan Program (ALN 84.268) Federal Award Year: 2023 Finding: The University did not accurately or timely report enrollment changes to the National Student Loan Data System (NSLDS). Criteria: Per 34 CFR 685.309(b), “unless it [the University] expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a school must notify the Secretary within 30 days if it discovers that a loan under Title IV was made to or on behalf of a student who was enrolled or accepted for enrollment at the school, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended.” Per 34 CFR 685.305(c), the University shall use the date determined for the withdrawal date as the date reported to the Secretary. Condition: One student who had withdrawn from the University initially had their status reported as half-time to the NSLDS. Cause: A manual update to the student’s reported status was required but was not made. Effect: Noncompliance with federal regulations over enrollment reporting. Repeat findings may cause concern over administrative capability. Questioned Costs: None. Context: One out of 25 students with status changes tested were not reported accurately or timely to NSLDS. Repeat Finding: Not applicable. Recommendation: We recommend the University implement procedures to properly review and ensure reporting to the NSLDS is accurate and timely. Management Response: Management agrees with the finding.
Finding 2023-001
2023-001 - Enrollment Reporting U.S. Department of Education Student Financial Assistance Programs Cluster Federal Direct Loan Program (ALN 84.268) Federal Award Year: 2023 Finding: The University did not accurately or timely report enrollment changes to the National Student Loan Data System (NSLDS). Criteria: Per 34 CFR 685.309(b), “unless it [the University] expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a school must notify the Secretary within 30 days if it discovers that a loan under Title IV was made to or on behalf of a student who was enrolled or accepted for enrollment at the school, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended.” Per 34 CFR 685.305(c), the University shall use the date determined for the withdrawal date as the date reported to the Secretary. Condition: One student who had withdrawn from the University initially had their status reported as half-time to the NSLDS. Cause: A manual update to the student’s reported status was required but was not made. Effect: Noncompliance with federal regulations over enrollment reporting. Repeat findings may cause concern over administrative capability. Questioned Costs: None. Context: One out of 25 students with status changes tested were not reported accurately or timely to NSLDS. Repeat Finding: Not applicable. Recommendation: We recommend the University implement procedures to properly review and ensure reporting to the NSLDS is accurate and timely. Management Response: Management agrees with the finding.
Finding 2023-002
2023-002 - Disbursements to or on Behalf of Students U.S. Department of Education Student Financial Assistance Programs Cluster Federal Pell Grant Program (ALN 84.063) Federal Award Year: 2023 Finding: The University did not timely disburse a Pell grant to an eligible student within the payment period. Criteria: Per 34 CFR 668.164(b)(1), “an institution must disburse during the current payment period the amount of title IV, HEA program funds that a student enrolled at the institution, or the student's parent, is eligible to receive for that payment period.” The payment period is defined as a semester for the University. Condition: One student had Pell grant funds disbursed after the relevant semester. The correct amount of Pell grant funds was disbursed to the student over the course of the full academic year. Cause: The student underwent verification which resulted in a delay in disbursements. Verification process was completed within the payment period but a disbursement was not made timely due to the manual process required for this payment. Effect: Noncompliance with federal regulations over disbursements to students. Repeat findings may cause concern over administrative capability. Questioned Costs: None. Context: One out of 25 students with Pell disbursements tested did not have awarded funds disbursed timely. Repeat Finding: Not applicable. Recommendation: We recommend the University implement procedures to properly review and ensure timely disbursements to all students, including those with delayed disbursements due to verifications. Management Response: Management agrees with the finding.
Finding 2023-001
2023-001 - Enrollment Reporting U.S. Department of Education Student Financial Assistance Programs Cluster Federal Direct Loan Program (ALN 84.268) Federal Award Year: 2023 Finding: The University did not accurately or timely report enrollment changes to the National Student Loan Data System (NSLDS). Criteria: Per 34 CFR 685.309(b), “unless it [the University] expects to submit its next student updated enrollment report to the Secretary within the next 60 days, a school must notify the Secretary within 30 days if it discovers that a loan under Title IV was made to or on behalf of a student who was enrolled or accepted for enrollment at the school, and the student has ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended.” Per 34 CFR 685.305(c), the University shall use the date determined for the withdrawal date as the date reported to the Secretary. Condition: One student who had withdrawn from the University initially had their status reported as half-time to the NSLDS. Cause: A manual update to the student’s reported status was required but was not made. Effect: Noncompliance with federal regulations over enrollment reporting. Repeat findings may cause concern over administrative capability. Questioned Costs: None. Context: One out of 25 students with status changes tested were not reported accurately or timely to NSLDS. Repeat Finding: Not applicable. Recommendation: We recommend the University implement procedures to properly review and ensure reporting to the NSLDS is accurate and timely. Management Response: Management agrees with the finding.