FAC Explorer

Audit 29781

FY End
2022-06-30
Total Expended
$8.45M
Findings
2
Programs
12
Organization: Terra State Community College (OH)
Year: 2022 Accepted: 2023-01-25
Auditor: Plattenburg & Associates

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
34192 2022-001 Significant Deficiency Yes L
610634 2022-001 Significant Deficiency Yes L

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $2.45M - 0
84.425 Covid-19 Higher Education Emergency Relief Fund (heerf) Institutional Portion $2.32M Yes 1
84.063 Federal Pell Grant Program $1.92M - 0
84.425 Covid-19 Higher Education Emergency Relief Fund - Student Aid Portion $1.16M Yes 0
84.425 Covid-19 Governor's Emergency Education Relief Fund $205,939 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $82,683 - 0
59.037 Small Business Development Centers $73,727 - 0
59.037 Covid-19 Small Business Development Centers $42,450 - 0
84.033 Federal Work-Study Program $30,980 - 0
84.425 Covid-19 Strengthening Instituitions Program $22,713 Yes 0
21.019 Covid-19 Coronavirus Relief Fund $13,866 - 0
84.048 Career and Technical Education -- Basic Grants to States $2,971 - 0

Contacts

Name Title Type
CKZFN7NVGH73 Jacque Foos Auditee
4193349828 Kevin Vaughn Auditor
No contacts on file

Notes to SEFA

Title: Federal Direct Student Loan Program Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of 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 (Uniform Guidance). Therefore some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the Colleges financial statements. The College did not elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The College is a direct lender for the Federal Direct Student Loan program. The following represents direct loans originated and disbursed during fiscal year 2022: CFDA Number 84.268 program name Federal Subsidized Loans $1,148,043; 84.268 Federal Unsubsidized Loans 1,260,197; 84.268 Federal PLUS Loans 41,899; Total Federal Direct Student Loans $2,450,139.

Finding Details

Finding 2022-001
Federal Program Information: COVID 19 HEERF Institutional Portion ALN 84.425F Criteria: 2 CFR 200.329 and the terms and conditions of the federal award requires the entity to submit reports quarterly. Condition: The total expenditures on each quarterly report was not correct. Questioned Costs: None Context: The testing of the quarterly reports showed that incorrect amounts were reported for expenditures on each quarterly report. In total the amounts reported for the four quarters was correct for the audit period. Cause/Effect: As part of the College?s normal practices, the College posts a reallocation of certain expenditures. The College did not take this into account when preparing the individual quarterly reports. Repeat Finding from Prior Audit?: Yes, fiscal 2022 had already ended before the College received the prior year audit results. Recommendation: We recommend review of current practices and implement policies establishing monitoring procedures related to quarterly reports. Management Response: The College agrees with the finding and is implementing appropriate procedures.
Finding 2022-001
Federal Program Information: COVID 19 HEERF Institutional Portion ALN 84.425F Criteria: 2 CFR 200.329 and the terms and conditions of the federal award requires the entity to submit reports quarterly. Condition: The total expenditures on each quarterly report was not correct. Questioned Costs: None Context: The testing of the quarterly reports showed that incorrect amounts were reported for expenditures on each quarterly report. In total the amounts reported for the four quarters was correct for the audit period. Cause/Effect: As part of the College?s normal practices, the College posts a reallocation of certain expenditures. The College did not take this into account when preparing the individual quarterly reports. Repeat Finding from Prior Audit?: Yes, fiscal 2022 had already ended before the College received the prior year audit results. Recommendation: We recommend review of current practices and implement policies establishing monitoring procedures related to quarterly reports. Management Response: The College agrees with the finding and is implementing appropriate procedures.