FAC Explorer

Audit 21161

FY End
2022-06-30
Total Expended
$4.16M
Findings
6
Programs
5
Organization: MacCormac College Dba Generations College (IL)
Year: 2022 Accepted: 2023-03-14
Auditor: Pkf Mueller

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
20293 2022-001 Material Weakness - I
20294 2022-001 Material Weakness - I
20295 2022-001 Material Weakness - I
596735 2022-001 Material Weakness - I
596736 2022-001 Material Weakness - I
596737 2022-001 Material Weakness - I

Programs

ALN Program Spent Major Findings
84.063 Federal Pell Grant Program $1.45M Yes 0
84.268 Federal Direct Student Loans $1.23M Yes 0
84.425 Education Stabilization Fund $117,992 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $45,668 Yes 0
64.027 Post-9/11 Veterans Educational Assistance $29,997 - 0

Contacts

Name Title Type
DGN3FFPKQW15 Matt Gawenda Auditee
3129221884 John Fedus Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 - BASIS OF PRESENTATION Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. 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. The College haselected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. 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 includes the federal grant activity of Generations College (College) for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of theoperations of the College, it is not intended to and does not present the financial position, changes in net assets,or cash flows of the College.
Title: NOTE 3 - SUB-RECIPIENTS Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. 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. The College haselected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The College provided no federal awards to sub-recipients during the year ended June 30, 2022.
Title: NOTE 4 - FEDERAL LOAN PROGRAM Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. 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. The College haselected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. For the year ended June 30, 2022, College acted as a pass-through agency for the Federal Stafford Loans (subsidized and unsubsidized) to students in the amount of $1,234,035.
Title: NOTE 5 - OTHER INFORMATION Accounting Policies: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. 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. The College haselected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. During the year ended June 30, 2022, the College received no federal insurance or federal noncash assistance for the purpose of administering federal programs.

Finding Details

Finding 2022-001
Condition: When gaining an understanding of the College's procurement procedures, we noted that the College could not support if there was a documented procurement policy in place during fiscal year 2022. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318, states that the auditee must have and use documented procurement procedures for the acquisition of property or services required under Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in ?200.317 through ?200.327. Questioned Costs: None Effect: The College does not properly maintain a documented procurement policy in accordance with Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318. Cause: Inadequate internal control over the existence of a formal procurement policy implemented by the College. Recommendation: We recommend that the College formally adopt a procurement procedures document to ensure the applicable procurement requirements are adhered to and supported. Management's Response: A procurement policy was formally approved by the Board of Trustees of the College on February 23, 2023.
Finding 2022-001
Condition: When gaining an understanding of the College's procurement procedures, we noted that the College could not support if there was a documented procurement policy in place during fiscal year 2022. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318, states that the auditee must have and use documented procurement procedures for the acquisition of property or services required under Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in ?200.317 through ?200.327. Questioned Costs: None Effect: The College does not properly maintain a documented procurement policy in accordance with Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318. Cause: Inadequate internal control over the existence of a formal procurement policy implemented by the College. Recommendation: We recommend that the College formally adopt a procurement procedures document to ensure the applicable procurement requirements are adhered to and supported. Management's Response: A procurement policy was formally approved by the Board of Trustees of the College on February 23, 2023.
Finding 2022-001
Condition: When gaining an understanding of the College's procurement procedures, we noted that the College could not support if there was a documented procurement policy in place during fiscal year 2022. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318, states that the auditee must have and use documented procurement procedures for the acquisition of property or services required under Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in ?200.317 through ?200.327. Questioned Costs: None Effect: The College does not properly maintain a documented procurement policy in accordance with Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318. Cause: Inadequate internal control over the existence of a formal procurement policy implemented by the College. Recommendation: We recommend that the College formally adopt a procurement procedures document to ensure the applicable procurement requirements are adhered to and supported. Management's Response: A procurement policy was formally approved by the Board of Trustees of the College on February 23, 2023.
Finding 2022-001
Condition: When gaining an understanding of the College's procurement procedures, we noted that the College could not support if there was a documented procurement policy in place during fiscal year 2022. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318, states that the auditee must have and use documented procurement procedures for the acquisition of property or services required under Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in ?200.317 through ?200.327. Questioned Costs: None Effect: The College does not properly maintain a documented procurement policy in accordance with Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318. Cause: Inadequate internal control over the existence of a formal procurement policy implemented by the College. Recommendation: We recommend that the College formally adopt a procurement procedures document to ensure the applicable procurement requirements are adhered to and supported. Management's Response: A procurement policy was formally approved by the Board of Trustees of the College on February 23, 2023.
Finding 2022-001
Condition: When gaining an understanding of the College's procurement procedures, we noted that the College could not support if there was a documented procurement policy in place during fiscal year 2022. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318, states that the auditee must have and use documented procurement procedures for the acquisition of property or services required under Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in ?200.317 through ?200.327. Questioned Costs: None Effect: The College does not properly maintain a documented procurement policy in accordance with Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318. Cause: Inadequate internal control over the existence of a formal procurement policy implemented by the College. Recommendation: We recommend that the College formally adopt a procurement procedures document to ensure the applicable procurement requirements are adhered to and supported. Management's Response: A procurement policy was formally approved by the Board of Trustees of the College on February 23, 2023.
Finding 2022-001
Condition: When gaining an understanding of the College's procurement procedures, we noted that the College could not support if there was a documented procurement policy in place during fiscal year 2022. Criteria: Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318, states that the auditee must have and use documented procurement procedures for the acquisition of property or services required under Federal award or subaward. The non-Federal entity's documented procurement procedures must conform to the procurement standards identified in ?200.317 through ?200.327. Questioned Costs: None Effect: The College does not properly maintain a documented procurement policy in accordance with Title 2, Subtitle A, Chapter II, Part 200, Subpart D, ?200.318. Cause: Inadequate internal control over the existence of a formal procurement policy implemented by the College. Recommendation: We recommend that the College formally adopt a procurement procedures document to ensure the applicable procurement requirements are adhered to and supported. Management's Response: A procurement policy was formally approved by the Board of Trustees of the College on February 23, 2023.