FAC Explorer

Audit 292927

FY End
2023-05-31
Total Expended
$19.81M
Findings
6
Programs
4
Organization: Webber International University, Inc. (FL)
Year: 2023 Accepted: 2024-02-29
Auditor: Bunting Tripp & Ingley LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
371220 2023-001 - Yes E
371221 2023-002 - - C
371222 2023-002 - - C
947662 2023-001 - Yes E
947663 2023-002 - - C
947664 2023-002 - - C

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $14.42M Yes 1
84.063 Federal Pell Grant Program $5.10M Yes 2
84.007 Federal Supplemental Educational Opportunity Grants $206,622 Yes 0
84.033 Federal Work-Study Program $82,118 Yes 0

Contacts

Name Title Type
WCC3Q7RY1HK9 Christina Jordon Auditee
8636382944 William M. Jacobs Auditor
No contacts on file

Notes to SEFA

Title: Note B - Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, the FLDOE guidance and the NC 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: Webber International University, Inc. has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, the FLDOE guidance and the NC 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.

Finding Details

Finding 2023-001
Subsequent to the audit, for those students who have been over awarded, the University refunded $1,724 to the 2022-2023 Federal Pell Grant program on behalf of student #24. In addition, for those students who had been under awarded, the University awarded and disbursed $863 in funds to student #4, and $862 in funds to student #21. The Universities will switch processing systems from two to one eliminating manual errors. Moving to the one system (Campus Anyware) will allow all departments (academics, business office, financial aid, and admissions) to have access to the same information in real time. Campus Anyware will also allow financial aid to auto package federal aid ensuing accurate calculation of Pell grant awards. This transition will be in effect for the 2024/2025 award year.
Finding 2023-002
The Universities have partnered both financial aid and academic departments to work on all return of Title IV calculations in a timely manner. The financial aid department will educate all students at the time of initial packaging on the importance of attendance and grades as it pertains to all aid. The registrar’s office will notify the financial aid office and business office of all withdrawals and/or drop by emailing the applicable form to them for the students record keeping and processing. The financial aid office will then process the R2T4 (through the Cod R2T4 calculator, no manual FA withdraw checklist needed) upon notification from the BO of any applicable student account adjustments. The student will be notified via email and funds will be returned with in the 45-day return window. Or a PWD notice will be mailed to the student or applicable loan processing. The four students will be reviewed, and aid returned if applicable.
Finding 2023-002
The Universities have partnered both financial aid and academic departments to work on all return of Title IV calculations in a timely manner. The financial aid department will educate all students at the time of initial packaging on the importance of attendance and grades as it pertains to all aid. The registrar’s office will notify the financial aid office and business office of all withdrawals and/or drop by emailing the applicable form to them for the students record keeping and processing. The financial aid office will then process the R2T4 (through the Cod R2T4 calculator, no manual FA withdraw checklist needed) upon notification from the BO of any applicable student account adjustments. The student will be notified via email and funds will be returned with in the 45-day return window. Or a PWD notice will be mailed to the student or applicable loan processing. The four students will be reviewed, and aid returned if applicable.
Finding 2023-001
Subsequent to the audit, for those students who have been over awarded, the University refunded $1,724 to the 2022-2023 Federal Pell Grant program on behalf of student #24. In addition, for those students who had been under awarded, the University awarded and disbursed $863 in funds to student #4, and $862 in funds to student #21. The Universities will switch processing systems from two to one eliminating manual errors. Moving to the one system (Campus Anyware) will allow all departments (academics, business office, financial aid, and admissions) to have access to the same information in real time. Campus Anyware will also allow financial aid to auto package federal aid ensuing accurate calculation of Pell grant awards. This transition will be in effect for the 2024/2025 award year.
Finding 2023-002
The Universities have partnered both financial aid and academic departments to work on all return of Title IV calculations in a timely manner. The financial aid department will educate all students at the time of initial packaging on the importance of attendance and grades as it pertains to all aid. The registrar’s office will notify the financial aid office and business office of all withdrawals and/or drop by emailing the applicable form to them for the students record keeping and processing. The financial aid office will then process the R2T4 (through the Cod R2T4 calculator, no manual FA withdraw checklist needed) upon notification from the BO of any applicable student account adjustments. The student will be notified via email and funds will be returned with in the 45-day return window. Or a PWD notice will be mailed to the student or applicable loan processing. The four students will be reviewed, and aid returned if applicable.
Finding 2023-002
The Universities have partnered both financial aid and academic departments to work on all return of Title IV calculations in a timely manner. The financial aid department will educate all students at the time of initial packaging on the importance of attendance and grades as it pertains to all aid. The registrar’s office will notify the financial aid office and business office of all withdrawals and/or drop by emailing the applicable form to them for the students record keeping and processing. The financial aid office will then process the R2T4 (through the Cod R2T4 calculator, no manual FA withdraw checklist needed) upon notification from the BO of any applicable student account adjustments. The student will be notified via email and funds will be returned with in the 45-day return window. Or a PWD notice will be mailed to the student or applicable loan processing. The four students will be reviewed, and aid returned if applicable.