FAC Explorer

Audit 24699

FY End
2022-07-31
Total Expended
$1.87M
Findings
2
Programs
4
Organization: Lincoln University (CA)
Year: 2022 Accepted: 2023-03-27
Auditor: Tang&lee LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
35291 2022-002 Significant Deficiency - L
611733 2022-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
59.008 Disaster Assistance Loans $500,000 - 0
84.425 Education Stabilization Fund $451,165 Yes 1
84.032 Federal Direct Student Loan $392,032 - 0
84.063 Federal Pell Grant Program $224,491 - 0

Contacts

Name Title Type
FT7LSGHRGJL3 Albert Loh Auditee
5106288027 Amanda Wang Auditor
No contacts on file

Notes to SEFA

Accounting Policies: Expenditures reported on the Schedule 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-002
(1) We found that LU only spent part of HEERF III grant fund for student aid portion, which did not meet the minimum expenditures requirement because ED temporarily had frozen the G5 grant withdrawal account of LU. (2) We found that LU did not fully expend its HEERF III grant funds within one year from the date of award of this grant. The amount of $41,114 was remained unused because the G5 platform was temporarily frozen by ED. Therefore, LU had not submitted the 2021 annual report to ED and had not posted a couple of quarterly reports in a timely fashion at their website for HEERF grant. LU has been notified by ED to replenish the required annual reports for calendar year 2021 and 2022.
Finding 2022-002
(1) We found that LU only spent part of HEERF III grant fund for student aid portion, which did not meet the minimum expenditures requirement because ED temporarily had frozen the G5 grant withdrawal account of LU. (2) We found that LU did not fully expend its HEERF III grant funds within one year from the date of award of this grant. The amount of $41,114 was remained unused because the G5 platform was temporarily frozen by ED. Therefore, LU had not submitted the 2021 annual report to ED and had not posted a couple of quarterly reports in a timely fashion at their website for HEERF grant. LU has been notified by ED to replenish the required annual reports for calendar year 2021 and 2022.