FAC Explorer

Audit 23421

FY End
2022-08-31
Total Expended
$22.83M
Findings
4
Programs
7
Organization: Wagner College (NY)
Year: 2022 Accepted: 2023-05-30
Auditor: Grant Thornton LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
26235 2022-001 Significant Deficiency Yes N
26236 2022-001 Significant Deficiency Yes N
602677 2022-001 Significant Deficiency Yes N
602678 2022-001 Significant Deficiency Yes N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $14.54M Yes 1
84.425 Education Stabilization Fund $1.85M Yes 0
84.063 Federal Pell Grant Program $1.69M Yes 1
84.038 Federal Perkins Loan Program $1.65M Yes 0
93.364 Nursing Student Loans $756,741 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $403,238 Yes 0
84.033 Federal Work-Study Program $74,168 Yes 0

Contacts

Name Title Type
JUMFE3NSPJJ3 John Carrescia Auditee
7184204264 Sara D'agostino Auditor
No contacts on file

Notes to SEFA

Title: FEDERAL STUDENT LOAN PROGRAMS Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant expenditures of Wagner College (the College) for the year ended August 31, 2022. The information presented in this Schedule has been prepared using the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Accordingly, some amounts presented in the accompanying Schedule may differ from amounts presented in, or used in, the preparation of the Colleges 2022 financial statements. During the year ended August 31, 2022, the College provided no awards to sub-recipients. The College recognizes expenditures for federal student financial assistance programs as they are incurred. Student financial assistance program expenditures include Federal Pell Grants to students, the federal share of Federal Supplemental Educational Opportunity Grants (FSEOG) to students, and the federal share of Federal Work-Study (FWS) student wages, as well as loans disbursed to students under the Federal Perkins, Nursing Student, and Direct Student Loan programs and each programs administrative cost allowance, if any. De Minimis Rate Used: N Rate Explanation: For the year ended August 31, 2022, the College claimed an administrative cost allowance under the Federal Work Study Program of $4,543 and no administrative cost allowance related to the FSEOG Program and the Federal Pell Grant Program. In addition, the College has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule includes expenditures of $1,653,921 and $756,741 related to the Federal Perkins Loan and the Nursing Student Loan Programs, respectively, which are comprised of the value of new loans made during fiscal 2022, if any, plus the programs beginning of the year balance for which the College retains continuing compliance requirements, as stipulated by ?200.502 of the Uniform Guidance. In fiscal 2022, there were no federal capital contributions or matching requirements related to the Federal Perkins Loan program or the Nursing Student Loan program. The following provides information about Federal Perkins Loans and Nursing Student Loans activity for the year ended August 31, 2022:Federal Perkins Loan Program (ALN 84.038) - Balance as of August 31, 2021: $1,653,921; Loans Issued:$0; Payments Received:$426,587;Balance as of August 31, 2022:$1,227,334....Nursing Student Loan Program (ALN 93.364)- Balance as of August 31, 2021:$671,991; Loans Issued:$138,750; Payments Received:$122,275; Balance as of August 31, 2022: $634,466.With respect to the Federal Direct Student Loan Program, the College is responsible only for the performance of certain administrative duties; therefore, the net assets and transactions for this program are not included in the Colleges financial statements. It is not practical to estimate the amount of loans outstanding to students of the College under this program at August 31, 2022.

Finding Details

Finding 2022-001
Finding 2022-001 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2021-2022 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (?ED?) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (?NSLDS?) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution?s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; ?Campus Level? and ?Program Level,? both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: ? Office of Postsecondary Education Identifier (?OPEID?); ? Enrollment status; and ? Enrollment effective date. Required program-level data includes, but is not limited to: ? Program enrollment status; ? Program enrollment effective date; ? Program begin date; ? Published program length and measurement; and ? Classification of Instructional Program (?CIP?) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 25 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College?s enrollment and financial aid system has been programmed to report such information, the identified students? program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 25 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes. Recommendation: The College should implement procedures to ensure that students? program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: College management agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Various departments at the College have been working collaboratively to correct the reporting of program begin dates to the NSLDS for all students.
Finding 2022-001
Finding 2022-001 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2021-2022 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (?ED?) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (?NSLDS?) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution?s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; ?Campus Level? and ?Program Level,? both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: ? Office of Postsecondary Education Identifier (?OPEID?); ? Enrollment status; and ? Enrollment effective date. Required program-level data includes, but is not limited to: ? Program enrollment status; ? Program enrollment effective date; ? Program begin date; ? Published program length and measurement; and ? Classification of Instructional Program (?CIP?) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 25 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College?s enrollment and financial aid system has been programmed to report such information, the identified students? program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 25 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes. Recommendation: The College should implement procedures to ensure that students? program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: College management agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Various departments at the College have been working collaboratively to correct the reporting of program begin dates to the NSLDS for all students.
Finding 2022-001
Finding 2022-001 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2021-2022 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (?ED?) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (?NSLDS?) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution?s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; ?Campus Level? and ?Program Level,? both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: ? Office of Postsecondary Education Identifier (?OPEID?); ? Enrollment status; and ? Enrollment effective date. Required program-level data includes, but is not limited to: ? Program enrollment status; ? Program enrollment effective date; ? Program begin date; ? Published program length and measurement; and ? Classification of Instructional Program (?CIP?) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 25 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College?s enrollment and financial aid system has been programmed to report such information, the identified students? program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 25 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes. Recommendation: The College should implement procedures to ensure that students? program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: College management agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Various departments at the College have been working collaboratively to correct the reporting of program begin dates to the NSLDS for all students.
Finding 2022-001
Finding 2022-001 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2021-2022 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (?ED?) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (?NSLDS?) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution?s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; ?Campus Level? and ?Program Level,? both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: ? Office of Postsecondary Education Identifier (?OPEID?); ? Enrollment status; and ? Enrollment effective date. Required program-level data includes, but is not limited to: ? Program enrollment status; ? Program enrollment effective date; ? Program begin date; ? Published program length and measurement; and ? Classification of Instructional Program (?CIP?) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 25 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College?s enrollment and financial aid system has been programmed to report such information, the identified students? program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 25 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes. Recommendation: The College should implement procedures to ensure that students? program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: College management agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Various departments at the College have been working collaboratively to correct the reporting of program begin dates to the NSLDS for all students.