FAC Explorer

Audit 292721

FY End
2023-05-31
Total Expended
$37.66M
Findings
2
Programs
10
Organization: Saint Mary's University of Minnesota (MN)
Year: 2023 Accepted: 2024-02-28
Auditor: Baker Tilly US LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
371048 2023-001 Significant Deficiency Yes N
947490 2023-001 Significant Deficiency Yes N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $33.66M Yes 1
84.038 Federal Perkins Loan Program $1.33M Yes 0
84.063 Federal Pell Grant Program $1.23M Yes 0
15.665 National Wetlands Inventory $516,268 - 0
84.007 Federal Supplemental Educational Opportunity Grants $435,065 Yes 0
84.033 Federal Work-Study Program $202,891 Yes 0
15.945 Cooperative Research and Training Programs Ð Resources of the National Park System $175,515 - 0
66.462 National Wetland Program Development Grants and Five-Star Restoration Training Grant $49,448 - 0
66.436 Surveys, Studies, Investigations, Demonstrations, and Training Grants and Cooperative Agreements - Section 104(b)(3) of the Clean Water Act $37,766 - 0
15.808 U.s. Geological Survey_ Research and Data Collection $15,000 - 0

Contacts

Name Title Type
K8F4C6VG5MX5 Kelly Boice Auditee
5074571445 Nicki Donlon Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: 2 CFR 200.510(b)(6) De Minimis Rate Used: N Rate Explanation: N/A The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Saint Mary's University of Minnesota under programs of the federal government for the year ended May 31, 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 the University, it is not intended to and does not present the financial position, changes in net assets or cash flows of the University.
Title: Summary of Significant Accounting Policies Accounting Policies: 2 CFR 200.510(b)(6) De Minimis Rate Used: N Rate Explanation: N/A 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.
Title: Indirect Cost Rate Accounting Policies: 2 CFR 200.510(b)(6) De Minimis Rate Used: N Rate Explanation: N/A The University has elected not to use the 10% de minimis indirect cost rate.
Title: Loan and Loan Guarantee Programs Accounting Policies: 2 CFR 200.510(b)(6) De Minimis Rate Used: N Rate Explanation: N/A The Federal Perkins Loan Program is administered directly by the University, and balances and transactions relating to this program are included in the University’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. Federal Perkins loans outstanding at May 31, 2023 totaled $1,151,690.

Finding Details

Finding 2023-001
Criteria: Title IV regulations (34 CFR 685.309(b)) require that upon receipt of an enrollment report from the Secretary, institutions must update all information included in the report and return the report to the Secretary: (i) in the manner and format prescribed by the Secretary; and (ii) within the time frame prescribed by the Secretary. Unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days, an institution must notify the Secretary within 30 days after the date the institution discovers that: (i) a loan under Title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, 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; or (ii) a student who is enrolled at the institution and who received a loan under Title IV of the Act has changed his or her permanent address. Condition/Context: The University was not able to provide the Auditor with a population of student status changes for which to sample from to complete the enrollment reporting testing. Cause: The University does not have a consistent procedure for reporting student status changes accurately and timely and is unable to generate a report of student status changes to verify that the appropriate reporting requirements were followed. Effect: The accuracy of Title IV student loan records depends heavily on the accuracy of the enrollment information reported by institutions. If an institution does not review, update and verify student enrollment statuses, effective dates of the enrollment status and the anticipated completion dates, then the Title IV student loan records will be inaccurate. Questioned Costs: Not applicable. Recommendation: It is recommended that policies and procedures are put in place to verify that the correct program level effective dates and enrollment statuses are reported to the NSLDS within the required time frames after the information has been submitted through the servicer (NSC). This could include a review of withdrawal or graduation dates compared to the effective dates and enrollment statuses reported to the NSLDS to make sure they are accurate. Management Response: The University is implementing a new student information system which is expected to improve this and other processes. Implementation is anticipated to be complete by July 2024.
Finding 2023-001
Criteria: Title IV regulations (34 CFR 685.309(b)) require that upon receipt of an enrollment report from the Secretary, institutions must update all information included in the report and return the report to the Secretary: (i) in the manner and format prescribed by the Secretary; and (ii) within the time frame prescribed by the Secretary. Unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days, an institution must notify the Secretary within 30 days after the date the institution discovers that: (i) a loan under Title IV of the Act was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, 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; or (ii) a student who is enrolled at the institution and who received a loan under Title IV of the Act has changed his or her permanent address. Condition/Context: The University was not able to provide the Auditor with a population of student status changes for which to sample from to complete the enrollment reporting testing. Cause: The University does not have a consistent procedure for reporting student status changes accurately and timely and is unable to generate a report of student status changes to verify that the appropriate reporting requirements were followed. Effect: The accuracy of Title IV student loan records depends heavily on the accuracy of the enrollment information reported by institutions. If an institution does not review, update and verify student enrollment statuses, effective dates of the enrollment status and the anticipated completion dates, then the Title IV student loan records will be inaccurate. Questioned Costs: Not applicable. Recommendation: It is recommended that policies and procedures are put in place to verify that the correct program level effective dates and enrollment statuses are reported to the NSLDS within the required time frames after the information has been submitted through the servicer (NSC). This could include a review of withdrawal or graduation dates compared to the effective dates and enrollment statuses reported to the NSLDS to make sure they are accurate. Management Response: The University is implementing a new student information system which is expected to improve this and other processes. Implementation is anticipated to be complete by July 2024.