Audit 291830

FY End

2023-05-31

Total Expended

$19.18M

Findings

4

Programs

7

Organization: Curry College (MA)

Year: 2023 Accepted: 2024-02-23

Auditor: Grant Thornton LLP

Organization Exclusion Status:

Checking exclusion status...

ID	Ref	Severity	Repeat	Requirement
370237	2023-001	Significant Deficiency	-	N
370238	2023-001	Significant Deficiency	-	N
946679	2023-001	Significant Deficiency	-	N
946680	2023-001	Significant Deficiency	-	N

ALN	Program	Spent	Major	Findings
84.268	Federal Direct Student Loans	$15.64M	Yes	1
84.063	Federal Pell Grant Program	$2.70M	Yes	1
84.033	Federal Work-Study Program	$243,672	Yes	0
84.007	Federal Supplemental Educational Opportunity Grants	$193,500	Yes	0
93.264	Nurse Faculty Loan Program (nflp)	$166,673	Yes	0
84.038	Federal Perkins Loan Program	$156,767	Yes	0
93.364	Nursing Student Loans	$90,141	Yes	0

Contacts

Name	Title	Type
METJDJ19GJA5	Ruth Joress	Auditee
6173332012	Alan Jutras	Auditor
No contacts on file

Notes to SEFA

Title: Note B - Loans Outstanding Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Curry College (the “College”) and is presented on the accrual basis of accounting. 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations 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. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. During the year ended May 31, 2023, the College processed $15,635,684 of new loans under the Federal Direct Student Loan Program (“Direct Loan”). The College is responsible only for the performance of certain administrative duties with respect to the Direct Loan Program and, accordingly, the value of these loans is not reflected in the College’s basic financial statements. It is not practical to determine the balance of loans outstanding to students of the College under this program. Loans listed subsequently are administered directly by the College, and balances and transactions relating to these programs are included in the College’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at May 31, 2023 consists of: Federal Perkins Loan Program (Federal Assistance Listings Number #84.038), Loans outstanding at May 31, 2022, $156,767, Advances - Collections and adjustments 13,316, Loans outstanding at May 31, 2023 $143,451. On September 30, 2017, the Federal government terminated the Perkins Loan Program. Subsequent to this date students can no longer receive Perkins Loan disbursements. Nursing Faculty Loan Program (Federal Assistance Listings Number #93.264): Loans Outstanding at May 31, 2022 $143,947, Advances 22,726, Collections and adjustments - , Loans Outstanding at May 31, 2023 $166,673. Nursing Student Loans (Federal Assistance Listings Number #93.364): Loans Outstanding at May 31, 2022 $81,943, Advances 8,198, Collections and adjustments - , Loans Outstanding at May 31, 2023 $90,141.

Finding Details

Finding 2023-001

Finding 2023-001 Enrollment reporting (Significant deficiency), Federal Programs: U.S. Department of Education, Student Financial Assistance Cluster Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award year ended May 31, 2023 Repeat Finding: No Criteria: Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035), (Pell, 34 CFR 690.83(b)(2); FFEL, 34 CFR 682.610; Direct Loan, 34 CFR 685.309). Institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. Institutions must complete and return within 15 days the Enrollment Reporting roster file placed in their Student Aid Internet Gateway (SAIG) mailboxes sent by ED via NSLDS. An institution determines how often it receives the Enrollment Reporting roster file with the default set at a minimum of every 60 days. Context and Condition: Five students tested (out of a sample of 40) were incorrectly reported as withdrawn when they were graduated. The error was not discovered or corrected by the College’s review process. One student’s status change of withdrawn was not reported to the NSLDS within 60 days of the withdrawal. Cause: The College did not have adequate procedures to timely review the NSLDS submission for errors. Effect: Failure to comply with the enrollment reporting standard for certain students. Recommendation: Management should ensure that NSLDS reporting is properly reviewed and submitted timely. Views of Responsible Officials (unaudited) Management agrees with the finding and has prepared a corrective action plan to ensure timely reporting in the future.

Finding 2023-001

Finding 2023-001 Enrollment reporting (Significant deficiency), Federal Programs: U.S. Department of Education, Student Financial Assistance Cluster Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award year ended May 31, 2023 Repeat Finding: No Criteria: Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035), (Pell, 34 CFR 690.83(b)(2); FFEL, 34 CFR 682.610; Direct Loan, 34 CFR 685.309). Institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. Institutions must complete and return within 15 days the Enrollment Reporting roster file placed in their Student Aid Internet Gateway (SAIG) mailboxes sent by ED via NSLDS. An institution determines how often it receives the Enrollment Reporting roster file with the default set at a minimum of every 60 days. Context and Condition: Five students tested (out of a sample of 40) were incorrectly reported as withdrawn when they were graduated. The error was not discovered or corrected by the College’s review process. One student’s status change of withdrawn was not reported to the NSLDS within 60 days of the withdrawal. Cause: The College did not have adequate procedures to timely review the NSLDS submission for errors. Effect: Failure to comply with the enrollment reporting standard for certain students. Recommendation: Management should ensure that NSLDS reporting is properly reviewed and submitted timely. Views of Responsible Officials (unaudited) Management agrees with the finding and has prepared a corrective action plan to ensure timely reporting in the future.

Finding 2023-001

Finding 2023-001 Enrollment reporting (Significant deficiency), Federal Programs: U.S. Department of Education, Student Financial Assistance Cluster Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award year ended May 31, 2023 Repeat Finding: No Criteria: Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035), (Pell, 34 CFR 690.83(b)(2); FFEL, 34 CFR 682.610; Direct Loan, 34 CFR 685.309). Institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. Institutions must complete and return within 15 days the Enrollment Reporting roster file placed in their Student Aid Internet Gateway (SAIG) mailboxes sent by ED via NSLDS. An institution determines how often it receives the Enrollment Reporting roster file with the default set at a minimum of every 60 days. Context and Condition: Five students tested (out of a sample of 40) were incorrectly reported as withdrawn when they were graduated. The error was not discovered or corrected by the College’s review process. One student’s status change of withdrawn was not reported to the NSLDS within 60 days of the withdrawal. Cause: The College did not have adequate procedures to timely review the NSLDS submission for errors. Effect: Failure to comply with the enrollment reporting standard for certain students. Recommendation: Management should ensure that NSLDS reporting is properly reviewed and submitted timely. Views of Responsible Officials (unaudited) Management agrees with the finding and has prepared a corrective action plan to ensure timely reporting in the future.

Finding 2023-001

Finding 2023-001 Enrollment reporting (Significant deficiency), Federal Programs: U.S. Department of Education, Student Financial Assistance Cluster Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award year ended May 31, 2023 Repeat Finding: No Criteria: Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035), (Pell, 34 CFR 690.83(b)(2); FFEL, 34 CFR 682.610; Direct Loan, 34 CFR 685.309). Institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. Institutions must complete and return within 15 days the Enrollment Reporting roster file placed in their Student Aid Internet Gateway (SAIG) mailboxes sent by ED via NSLDS. An institution determines how often it receives the Enrollment Reporting roster file with the default set at a minimum of every 60 days. Context and Condition: Five students tested (out of a sample of 40) were incorrectly reported as withdrawn when they were graduated. The error was not discovered or corrected by the College’s review process. One student’s status change of withdrawn was not reported to the NSLDS within 60 days of the withdrawal. Cause: The College did not have adequate procedures to timely review the NSLDS submission for errors. Effect: Failure to comply with the enrollment reporting standard for certain students. Recommendation: Management should ensure that NSLDS reporting is properly reviewed and submitted timely. Views of Responsible Officials (unaudited) Management agrees with the finding and has prepared a corrective action plan to ensure timely reporting in the future.