FAC Explorer

Audit 299776

FY End
2023-06-30
Total Expended
$5.56M
Findings
6
Programs
4
Organization: Beacon College, Inc. (FL)
Year: 2023 Accepted: 2024-03-28
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
387722 2023-002 Significant Deficiency - L
387723 2023-001 Significant Deficiency - L
387724 2023-002 Significant Deficiency - L
964164 2023-002 Significant Deficiency - L
964165 2023-001 Significant Deficiency - L
964166 2023-002 Significant Deficiency - L

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $4.68M Yes 2
84.063 Federal Pell Grant Program $731,146 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $95,000 Yes 0
84.033 Federal Work-Study Program $56,443 Yes 0

Contacts

Name Title Type
N5Q6CUSFQ744 Fred Gore Auditee
3523651135 Aaron Crall Auditor
No contacts on file

Notes to SEFA

Title: FEDERAL LOANS DISBURSED Accounting Policies: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state award activity of Beacon College, Inc. and is presented on the accrual basis of accounting. The information in the 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); and Chapter 10.650, Rules of the Auditor General, therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. There were no noncash awards in the current year nor any sub-recipients of federal awards and state financial assistance in the current year. De Minimis Rate Used: N Rate Explanation: The College has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The College participates in the Federal Direct Loan Program, including Federal Stafford Loans (Stafford) and Federal PLUS Loans (PLUS). The dollar amounts are listed in the schedule of federal awards although the College is not the recipient of the funds. Such programs are considered a component of the student financial assistance cluster. Loans processed by the College under this loan program were the following for the year ended June 30, 2023: Stafford: Subsidized $ 699,987 Unsubsidized 669,747 PLUS 3,311,849 Total Direct Loans $ 4,681,583

Finding Details

Finding 2023-002
2023–002 Common Origination and Disbursement (COD) Reporting Federal Agency: Department of Education Federal Program: Student Financial Aid Cluster CFDA Numbers: 84.268 – Federal Direct Loan Program, 84.063 Pell Grant Program Award Period: July 1, 2022 to June 30, 2023 Type of Finding: Significant Deficiency in Internal Control Over Compliance Other Matter Criteria or specific requirement: The Department of Education requires institutions to report disbursement dates and amounts to the COD system (34 CFR 690.83(b)(2) for Pell and 34 CFR 685.301(c) for Direct Loans). Condition: For 17 of the 40 awards tested, the disbursement dates reported to COD were one day later than the date the award was recorded in the student’s account. Questioned costs: None. Context: 4 of the 17 awards were Pell awards and 13 were Direct Loan awards. Cause: The College’s policies and procedures did not ensure that all disbursement dates were reported accurately. Effect: The disbursement dates reported to COD were not accurate. Repeat finding: No. Recommendation: We recommend that the College review their reporting policies and procedures to ensure accurate reporting. Views of responsible officials and planned corrective actions: See Corrective Action Pan prepared by the College.
Finding 2023-001
2023 – 001 National Student Loan Data System (NSLDS) Enrollment Reporting Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: 84.268 – Federal Direct Loan Program Award Period: July 1, 2022 to June 30, 2023 Type of Finding: Significant Deficiency in Internal Control Over Compliance Other Matter Criteria or specific requirement: According to the Code of Federal Regulations, 34 CFR 685.309(b) schools must update the secretary with pertinent information within 30 days (unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days) after the date the school discovers a change to a student’s enrollment status. Condition: During our testing, we noted 1 instance out of 8 students tested where a change in enrollment status was not reported to NSLDS. Questioned costs: None. Context: 1 instance out of 8 students tested. Cause: The College’s policies and procedures did not ensure that the change in enrollment status was identified and reported to NSLDS in a timely manner. Effect: The enrollment status for this student was not updated in a timely manner. Repeat finding: No. Recommendation: We recommend the College evaluate its policies and procedures for identifying and reporting enrollment status changes to ensure that all changes are reported to NSLDS in a timely manner. Views of responsible officials and planned corrective actions: See Corrective Action Plan prepared by the College.
Finding 2023-002
2023–002 Common Origination and Disbursement (COD) Reporting Federal Agency: Department of Education Federal Program: Student Financial Aid Cluster CFDA Numbers: 84.268 – Federal Direct Loan Program, 84.063 Pell Grant Program Award Period: July 1, 2022 to June 30, 2023 Type of Finding: Significant Deficiency in Internal Control Over Compliance Other Matter Criteria or specific requirement: The Department of Education requires institutions to report disbursement dates and amounts to the COD system (34 CFR 690.83(b)(2) for Pell and 34 CFR 685.301(c) for Direct Loans). Condition: For 17 of the 40 awards tested, the disbursement dates reported to COD were one day later than the date the award was recorded in the student’s account. Questioned costs: None. Context: 4 of the 17 awards were Pell awards and 13 were Direct Loan awards. Cause: The College’s policies and procedures did not ensure that all disbursement dates were reported accurately. Effect: The disbursement dates reported to COD were not accurate. Repeat finding: No. Recommendation: We recommend that the College review their reporting policies and procedures to ensure accurate reporting. Views of responsible officials and planned corrective actions: See Corrective Action Pan prepared by the College.
Finding 2023-002
2023–002 Common Origination and Disbursement (COD) Reporting Federal Agency: Department of Education Federal Program: Student Financial Aid Cluster CFDA Numbers: 84.268 – Federal Direct Loan Program, 84.063 Pell Grant Program Award Period: July 1, 2022 to June 30, 2023 Type of Finding: Significant Deficiency in Internal Control Over Compliance Other Matter Criteria or specific requirement: The Department of Education requires institutions to report disbursement dates and amounts to the COD system (34 CFR 690.83(b)(2) for Pell and 34 CFR 685.301(c) for Direct Loans). Condition: For 17 of the 40 awards tested, the disbursement dates reported to COD were one day later than the date the award was recorded in the student’s account. Questioned costs: None. Context: 4 of the 17 awards were Pell awards and 13 were Direct Loan awards. Cause: The College’s policies and procedures did not ensure that all disbursement dates were reported accurately. Effect: The disbursement dates reported to COD were not accurate. Repeat finding: No. Recommendation: We recommend that the College review their reporting policies and procedures to ensure accurate reporting. Views of responsible officials and planned corrective actions: See Corrective Action Pan prepared by the College.
Finding 2023-001
2023 – 001 National Student Loan Data System (NSLDS) Enrollment Reporting Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: 84.268 – Federal Direct Loan Program Award Period: July 1, 2022 to June 30, 2023 Type of Finding: Significant Deficiency in Internal Control Over Compliance Other Matter Criteria or specific requirement: According to the Code of Federal Regulations, 34 CFR 685.309(b) schools must update the secretary with pertinent information within 30 days (unless it expects to submit its next updated enrollment report to the Secretary within the next 60 days) after the date the school discovers a change to a student’s enrollment status. Condition: During our testing, we noted 1 instance out of 8 students tested where a change in enrollment status was not reported to NSLDS. Questioned costs: None. Context: 1 instance out of 8 students tested. Cause: The College’s policies and procedures did not ensure that the change in enrollment status was identified and reported to NSLDS in a timely manner. Effect: The enrollment status for this student was not updated in a timely manner. Repeat finding: No. Recommendation: We recommend the College evaluate its policies and procedures for identifying and reporting enrollment status changes to ensure that all changes are reported to NSLDS in a timely manner. Views of responsible officials and planned corrective actions: See Corrective Action Plan prepared by the College.
Finding 2023-002
2023–002 Common Origination and Disbursement (COD) Reporting Federal Agency: Department of Education Federal Program: Student Financial Aid Cluster CFDA Numbers: 84.268 – Federal Direct Loan Program, 84.063 Pell Grant Program Award Period: July 1, 2022 to June 30, 2023 Type of Finding: Significant Deficiency in Internal Control Over Compliance Other Matter Criteria or specific requirement: The Department of Education requires institutions to report disbursement dates and amounts to the COD system (34 CFR 690.83(b)(2) for Pell and 34 CFR 685.301(c) for Direct Loans). Condition: For 17 of the 40 awards tested, the disbursement dates reported to COD were one day later than the date the award was recorded in the student’s account. Questioned costs: None. Context: 4 of the 17 awards were Pell awards and 13 were Direct Loan awards. Cause: The College’s policies and procedures did not ensure that all disbursement dates were reported accurately. Effect: The disbursement dates reported to COD were not accurate. Repeat finding: No. Recommendation: We recommend that the College review their reporting policies and procedures to ensure accurate reporting. Views of responsible officials and planned corrective actions: See Corrective Action Pan prepared by the College.