FAC Explorer

Audit 293605

FY End
2023-06-30
Total Expended
$22.93M
Findings
2
Programs
9
Organization: Rockhurst University (MO)
Year: 2023 Accepted: 2024-03-05
Auditor: Rubinbrown LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
372299 2023-002 Significant Deficiency - N
948741 2023-002 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $18.68M Yes 1
84.063 Federal Pell Grant Program $2.46M Yes 0
84.038 Federal Perkins Loan Program $1.04M Yes 0
84.033 Federal Work-Study Program $250,000 Yes 0
93.364 Nursing Student Loans $192,564 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $175,211 Yes 0
47.076 Education and Human Resources $85,486 - 0
21.027 Coronavirus State and Local Fiscal Recovery Funds $46,055 - 0
94.006 Americorps $8,941 - 0

Contacts

Name Title Type
FLKBB6PP15C8 John Sircy Auditee
8165014862 Kaleb Lilly Auditor
No contacts on file

Notes to SEFA

Title: Additional Audits Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Rockhurst University 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. Grantor agencies reserve the right to conduct additional audits of the University’s grant programs for economy and efficiency. Such audits may result in disallowed costs to the University. However, the University’s management does not believe such audits would result in any disallowed costs that would be material to the financial position as of June 30, 2023.
Title: Student Loan Programs Administered By The University Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Rockhurst University 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The University administered the Federal Perkins Loan and the Nursing Student Loans programs during the year ended June 30, 2023: See the Notes to the SEFA for chart/table

Finding Details

Finding 2023-002
Finding 2023-002 - Significant Deficiency, Compliance Federal Assistance Listing No. 84.268 U.S. Department Of Education Student Financial Aid Cluster - Special Tests And Provisions Criteria: According to the Federal Student Aid Handbook, Volume 2, Chapter 6, a University must confirm that the student has completed face-to face or online counseling, or that the student has been mailed exit loan counseling material within 30 days of learning the student has withdrawn or failed to participate in an exit counseling session. Condition: In our nonstatistical sample of 40 students, it was noted for two individuals that the student had not completed exit counseling and the communication of exit counseling materials had not been completed within the 30 day threshold after learning that the student withdrew from the University. Cause: Management charged with oversight did not have proper processes and related controls in place to complete the exit counseling requirements within 30 days of the date the University determined the student withdrew. Effect: Students are not properly informed of their responsibilities for the repayment of loans received once leaving the University. Questioned Costs: There were no questioned costs to report as this finding relates only to exit counseling and is not related to eligibility. Context: The students in question were not provided exit counseling materials after the students withdrew in the Fall 2022 semester until after it was brought to the attention of management as part of our testing procedures. Identification As A Repeat Finding: Not applicable. Recommendation: The Financial Aid department should review and consider revisions to its processes and related controls in place to complete the exit counseling requirements for all students who have exited the University within 30 days of the date of the student’s exit. Views Of Responsible Officials/Corrective Action Plan (Unaudited): The University concurs with the finding. The Financial Aid office is in the process of tightening its policies and procedures to identify all students subject to the required exit counseling, with the goal of delivering said counseling within the prescribed 30-day window. Completion Date: June 2024 Contact Person: John Sircy, Interim CFO
Finding 2023-002
Finding 2023-002 - Significant Deficiency, Compliance Federal Assistance Listing No. 84.268 U.S. Department Of Education Student Financial Aid Cluster - Special Tests And Provisions Criteria: According to the Federal Student Aid Handbook, Volume 2, Chapter 6, a University must confirm that the student has completed face-to face or online counseling, or that the student has been mailed exit loan counseling material within 30 days of learning the student has withdrawn or failed to participate in an exit counseling session. Condition: In our nonstatistical sample of 40 students, it was noted for two individuals that the student had not completed exit counseling and the communication of exit counseling materials had not been completed within the 30 day threshold after learning that the student withdrew from the University. Cause: Management charged with oversight did not have proper processes and related controls in place to complete the exit counseling requirements within 30 days of the date the University determined the student withdrew. Effect: Students are not properly informed of their responsibilities for the repayment of loans received once leaving the University. Questioned Costs: There were no questioned costs to report as this finding relates only to exit counseling and is not related to eligibility. Context: The students in question were not provided exit counseling materials after the students withdrew in the Fall 2022 semester until after it was brought to the attention of management as part of our testing procedures. Identification As A Repeat Finding: Not applicable. Recommendation: The Financial Aid department should review and consider revisions to its processes and related controls in place to complete the exit counseling requirements for all students who have exited the University within 30 days of the date of the student’s exit. Views Of Responsible Officials/Corrective Action Plan (Unaudited): The University concurs with the finding. The Financial Aid office is in the process of tightening its policies and procedures to identify all students subject to the required exit counseling, with the goal of delivering said counseling within the prescribed 30-day window. Completion Date: June 2024 Contact Person: John Sircy, Interim CFO