Audit 3005

FY End
2023-05-31
Total Expended
$50.74M
Findings
8
Programs
18
Year: 2023 Accepted: 2023-11-13

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
1728 2023-002 Significant Deficiency - L
1729 2023-002 Significant Deficiency - L
1730 2023-002 Significant Deficiency - L
1731 2023-001 Significant Deficiency - N
578170 2023-002 Significant Deficiency - L
578171 2023-002 Significant Deficiency - L
578172 2023-002 Significant Deficiency - L
578173 2023-001 Significant Deficiency - N

Contacts

Name Title Type
VGLPU3GKY6Q5 Lori Swete Auditee
2104363365 Debbie Kohnle Auditor
No contacts on file

Notes to SEFA

Title: 1. Basis of Presentation Accounting Policies: Expenditures on the SEFA are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: St. Mary’s University uses the indirect cost rate that was negotiated with DHHS, which is 35% of modified total direct costs, unless the funding agency has statutory requirements that differ, then St. Mary's University uses that rate. The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of St. Mary’s University under programs of the federal government for the year ended May 31, 2023. The information in the SEFA is presented in accordance with the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: 3. Federal Perkins Loan Program – Federal Capital Contributions Accounting Policies: Expenditures on the SEFA are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: St. Mary’s University uses the indirect cost rate that was negotiated with DHHS, which is 35% of modified total direct costs, unless the funding agency has statutory requirements that differ, then St. Mary's University uses that rate. St. Mary’s University administers the Federal Perkins Loan Program Federal Capital Contributions (Assistance Listing No. 84.038). The outstanding loan balance of $2,914,734 at June 1, 2022 and the loans made for the fiscal year ended May 31, 2023 of $0 are considered current year federal expenditures and are included in the SEFA. The total Perkins loans receivable at May 31, 2023 is $1,755,280.
Title: 4. Federal Direct Student Loans Program Accounting Policies: Expenditures on the SEFA are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: St. Mary’s University uses the indirect cost rate that was negotiated with DHHS, which is 35% of modified total direct costs, unless the funding agency has statutory requirements that differ, then St. Mary's University uses that rate. St. Mary’s University participates in the Federal Direct Student Loans Program (Assistance Listing No. 84.268), whereby St. Mary’s University requests cash from the U.S. Department of Education for funds disbursed to students. The new loans made in the fiscal year ended May 31, 2023 are reported in the SEFA.

Finding Details

Finding 2023‐002 – Reporting Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: TRIO Cluster: TRIO Student Support Services, Assistance Listing No. 84.042 (SSS) TRIO Upward Bound, Assistance Listing No. 84.047 (UB) TRIO McNair Post-Baccalaureate Achievement, Assistance Listing No. 84.217 (McNair) Award years: 2021‐2022 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Student Support Services Program Annual Performance Report (OMB No. 1840-0525) – Grantees must submit an annual performance report to ED each year of the project period. Upward Bound, and Upward Bound Math-Science Programs Annual Performance Report (OMB No. 1840-0831) – Grantees must submit an annual performance report to ED each year of the project period. Ronald E. McNair Post-Baccalaureate Achievement Program Performance Report (OMB No. 1840-0640) – Grantees must submit an annual performance report to the department each year of the project period. Condition: The University’s internal controls over the review of annual performance reports for the TRIO Cluster programs, SSS, UB, and McNair, are not designed with enough precision that would allow for the identification of errors in student data entered as part of the annual performance reporting process. Questioned costs: $0 Context: EY selected and tested key line items reported in the annual performance reports for 2021-2022 for 40 students across SSS, UB, and McNair. The 2021-2022 annual performance reports were submitted in fiscal year 2022-2023. We observed that there was not a precise enough control in place to ensure that the individual student data entered for the annual performance reports was accurate. We did observe a high-level control for the review of the annual performance report by the program directors; however, this control was not designed to identify errors in the data entered for the individual students. Expenditures for the TRIO Cluster programs totaled $1,476,031 for the fiscal year ended May 31, 2023, comprised of $275,451 for SSS, $957,166 for UB, and $243,414 for McNair. Effect: The Department of Education uses the information conveyed in the annual performance report to assess a grantee’s progress in meeting its approved goals and objectives and to evaluate a grantee’s prior experience in accordance with the program regulations. It is important that the information reported is accurate. Cause: The University did not have effective internal controls in place to ensure accurate information was reported in the annual performance reports. Identification as a repeat finding, if applicable: N/A Recommendation: The University should review its internal controls over the preparation and review of annual performance reports and design an additional control to review the individual student data entered for the annual performance reports for accuracy prior to submitting the annual performance reports to the U.S. Department of Education. The University should retain evidence of the performance of the review controls. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a corrective action plan.
Finding 2023‐002 – Reporting Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: TRIO Cluster: TRIO Student Support Services, Assistance Listing No. 84.042 (SSS) TRIO Upward Bound, Assistance Listing No. 84.047 (UB) TRIO McNair Post-Baccalaureate Achievement, Assistance Listing No. 84.217 (McNair) Award years: 2021‐2022 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Student Support Services Program Annual Performance Report (OMB No. 1840-0525) – Grantees must submit an annual performance report to ED each year of the project period. Upward Bound, and Upward Bound Math-Science Programs Annual Performance Report (OMB No. 1840-0831) – Grantees must submit an annual performance report to ED each year of the project period. Ronald E. McNair Post-Baccalaureate Achievement Program Performance Report (OMB No. 1840-0640) – Grantees must submit an annual performance report to the department each year of the project period. Condition: The University’s internal controls over the review of annual performance reports for the TRIO Cluster programs, SSS, UB, and McNair, are not designed with enough precision that would allow for the identification of errors in student data entered as part of the annual performance reporting process. Questioned costs: $0 Context: EY selected and tested key line items reported in the annual performance reports for 2021-2022 for 40 students across SSS, UB, and McNair. The 2021-2022 annual performance reports were submitted in fiscal year 2022-2023. We observed that there was not a precise enough control in place to ensure that the individual student data entered for the annual performance reports was accurate. We did observe a high-level control for the review of the annual performance report by the program directors; however, this control was not designed to identify errors in the data entered for the individual students. Expenditures for the TRIO Cluster programs totaled $1,476,031 for the fiscal year ended May 31, 2023, comprised of $275,451 for SSS, $957,166 for UB, and $243,414 for McNair. Effect: The Department of Education uses the information conveyed in the annual performance report to assess a grantee’s progress in meeting its approved goals and objectives and to evaluate a grantee’s prior experience in accordance with the program regulations. It is important that the information reported is accurate. Cause: The University did not have effective internal controls in place to ensure accurate information was reported in the annual performance reports. Identification as a repeat finding, if applicable: N/A Recommendation: The University should review its internal controls over the preparation and review of annual performance reports and design an additional control to review the individual student data entered for the annual performance reports for accuracy prior to submitting the annual performance reports to the U.S. Department of Education. The University should retain evidence of the performance of the review controls. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a corrective action plan.
Finding 2023‐002 – Reporting Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: TRIO Cluster: TRIO Student Support Services, Assistance Listing No. 84.042 (SSS) TRIO Upward Bound, Assistance Listing No. 84.047 (UB) TRIO McNair Post-Baccalaureate Achievement, Assistance Listing No. 84.217 (McNair) Award years: 2021‐2022 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Student Support Services Program Annual Performance Report (OMB No. 1840-0525) – Grantees must submit an annual performance report to ED each year of the project period. Upward Bound, and Upward Bound Math-Science Programs Annual Performance Report (OMB No. 1840-0831) – Grantees must submit an annual performance report to ED each year of the project period. Ronald E. McNair Post-Baccalaureate Achievement Program Performance Report (OMB No. 1840-0640) – Grantees must submit an annual performance report to the department each year of the project period. Condition: The University’s internal controls over the review of annual performance reports for the TRIO Cluster programs, SSS, UB, and McNair, are not designed with enough precision that would allow for the identification of errors in student data entered as part of the annual performance reporting process. Questioned costs: $0 Context: EY selected and tested key line items reported in the annual performance reports for 2021-2022 for 40 students across SSS, UB, and McNair. The 2021-2022 annual performance reports were submitted in fiscal year 2022-2023. We observed that there was not a precise enough control in place to ensure that the individual student data entered for the annual performance reports was accurate. We did observe a high-level control for the review of the annual performance report by the program directors; however, this control was not designed to identify errors in the data entered for the individual students. Expenditures for the TRIO Cluster programs totaled $1,476,031 for the fiscal year ended May 31, 2023, comprised of $275,451 for SSS, $957,166 for UB, and $243,414 for McNair. Effect: The Department of Education uses the information conveyed in the annual performance report to assess a grantee’s progress in meeting its approved goals and objectives and to evaluate a grantee’s prior experience in accordance with the program regulations. It is important that the information reported is accurate. Cause: The University did not have effective internal controls in place to ensure accurate information was reported in the annual performance reports. Identification as a repeat finding, if applicable: N/A Recommendation: The University should review its internal controls over the preparation and review of annual performance reports and design an additional control to review the individual student data entered for the annual performance reports for accuracy prior to submitting the annual performance reports to the U.S. Department of Education. The University should retain evidence of the performance of the review controls. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a corrective action plan.
Finding 2023‐001 – Special Tests and Provisions – Disbursements Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: Student Financial Assistance Cluster: Federal Direct Student Loans, Assistance Listing No. 84.268 Award years: 2022‐2023 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The institution must notify the student, or parent, in writing of (1) the date and amount of the disbursement; (2) the student’s right, or parent’s right, to cancel all or a portion of that loan or loan disbursement and have the loan proceeds returned to the holder of that loan or the TEACH Grant payments returned to ED; and (3) the procedure and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, TEACH Grant, or TEACH Grant disbursement. The notification requirement for loan funds applies only if the funds are disbursed by EFT payment or master check (34 CFR 668.165). Institutions that implement an affirmative confirmation process (as described in 34 CFR 668.165 (a)(6)(i)) must make this notification to the student or parent no earlier than 30 days before, and no later than 30 days after, crediting the student’s account at the institution with Direct Loan or TEACH Grants. Institutions that do not implement an affirmative confirmation process must notify a student no earlier than 30 days before, but no later than seven days after, crediting the student’s account and must give the student 30 days (instead of 14) to cancel all or part of the loan. Condition: St. Mary’s University’s (the University) relies on a tool to automatically send out notifications to students receiving Federal Direct Student Loans (direct loans). The code within the tool did not have appropriate parameters to initiate a notification for all date ranges of disbursements during the fiscal year. Questioned costs: $0 Context: EY randomly selected and tested 40 students receiving direct loans totaling $686,677 during 2022-2023 from a population of 1,878 students receiving direct loans totaling $38,371,477. EY noted one of the 40 students did not receive a loan notification from the University. During our testing of disbursements, specifically loan notifications, we noted that the tool used to send notifications after a direct loan was generated was not coded properly. EY noted that the student who did not receive a loan notification received a direct loan disbursement in August 2022 for the 2021-2022 aid year. The University indicated that the loan notification was not sent by the tool due to the direct loan disbursement occurring in late Summer 2022 and the tool’s code not being designed to identify the late Summer 2022 loans that originated during the aid year 2021-2022 since the new aid year of 2022-2023 had begun. Effect: If the tool’s programming for direct loan notifications to students is not coded properly, loan notifications may not be sent to students, as required. Cause: The University’s tool used to automate the direct loan notification process was coded inappropriately. Identification as a repeat finding, if applicable: N/A Recommendation: The University should periodically review the code within the tool to ensure it is accurate and will appropriately generate loan notifications to all students receiving direct loans, as required by federal regulations. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a plan to correct the finding.
Finding 2023‐002 – Reporting Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: TRIO Cluster: TRIO Student Support Services, Assistance Listing No. 84.042 (SSS) TRIO Upward Bound, Assistance Listing No. 84.047 (UB) TRIO McNair Post-Baccalaureate Achievement, Assistance Listing No. 84.217 (McNair) Award years: 2021‐2022 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Student Support Services Program Annual Performance Report (OMB No. 1840-0525) – Grantees must submit an annual performance report to ED each year of the project period. Upward Bound, and Upward Bound Math-Science Programs Annual Performance Report (OMB No. 1840-0831) – Grantees must submit an annual performance report to ED each year of the project period. Ronald E. McNair Post-Baccalaureate Achievement Program Performance Report (OMB No. 1840-0640) – Grantees must submit an annual performance report to the department each year of the project period. Condition: The University’s internal controls over the review of annual performance reports for the TRIO Cluster programs, SSS, UB, and McNair, are not designed with enough precision that would allow for the identification of errors in student data entered as part of the annual performance reporting process. Questioned costs: $0 Context: EY selected and tested key line items reported in the annual performance reports for 2021-2022 for 40 students across SSS, UB, and McNair. The 2021-2022 annual performance reports were submitted in fiscal year 2022-2023. We observed that there was not a precise enough control in place to ensure that the individual student data entered for the annual performance reports was accurate. We did observe a high-level control for the review of the annual performance report by the program directors; however, this control was not designed to identify errors in the data entered for the individual students. Expenditures for the TRIO Cluster programs totaled $1,476,031 for the fiscal year ended May 31, 2023, comprised of $275,451 for SSS, $957,166 for UB, and $243,414 for McNair. Effect: The Department of Education uses the information conveyed in the annual performance report to assess a grantee’s progress in meeting its approved goals and objectives and to evaluate a grantee’s prior experience in accordance with the program regulations. It is important that the information reported is accurate. Cause: The University did not have effective internal controls in place to ensure accurate information was reported in the annual performance reports. Identification as a repeat finding, if applicable: N/A Recommendation: The University should review its internal controls over the preparation and review of annual performance reports and design an additional control to review the individual student data entered for the annual performance reports for accuracy prior to submitting the annual performance reports to the U.S. Department of Education. The University should retain evidence of the performance of the review controls. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a corrective action plan.
Finding 2023‐002 – Reporting Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: TRIO Cluster: TRIO Student Support Services, Assistance Listing No. 84.042 (SSS) TRIO Upward Bound, Assistance Listing No. 84.047 (UB) TRIO McNair Post-Baccalaureate Achievement, Assistance Listing No. 84.217 (McNair) Award years: 2021‐2022 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Student Support Services Program Annual Performance Report (OMB No. 1840-0525) – Grantees must submit an annual performance report to ED each year of the project period. Upward Bound, and Upward Bound Math-Science Programs Annual Performance Report (OMB No. 1840-0831) – Grantees must submit an annual performance report to ED each year of the project period. Ronald E. McNair Post-Baccalaureate Achievement Program Performance Report (OMB No. 1840-0640) – Grantees must submit an annual performance report to the department each year of the project period. Condition: The University’s internal controls over the review of annual performance reports for the TRIO Cluster programs, SSS, UB, and McNair, are not designed with enough precision that would allow for the identification of errors in student data entered as part of the annual performance reporting process. Questioned costs: $0 Context: EY selected and tested key line items reported in the annual performance reports for 2021-2022 for 40 students across SSS, UB, and McNair. The 2021-2022 annual performance reports were submitted in fiscal year 2022-2023. We observed that there was not a precise enough control in place to ensure that the individual student data entered for the annual performance reports was accurate. We did observe a high-level control for the review of the annual performance report by the program directors; however, this control was not designed to identify errors in the data entered for the individual students. Expenditures for the TRIO Cluster programs totaled $1,476,031 for the fiscal year ended May 31, 2023, comprised of $275,451 for SSS, $957,166 for UB, and $243,414 for McNair. Effect: The Department of Education uses the information conveyed in the annual performance report to assess a grantee’s progress in meeting its approved goals and objectives and to evaluate a grantee’s prior experience in accordance with the program regulations. It is important that the information reported is accurate. Cause: The University did not have effective internal controls in place to ensure accurate information was reported in the annual performance reports. Identification as a repeat finding, if applicable: N/A Recommendation: The University should review its internal controls over the preparation and review of annual performance reports and design an additional control to review the individual student data entered for the annual performance reports for accuracy prior to submitting the annual performance reports to the U.S. Department of Education. The University should retain evidence of the performance of the review controls. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a corrective action plan.
Finding 2023‐002 – Reporting Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: TRIO Cluster: TRIO Student Support Services, Assistance Listing No. 84.042 (SSS) TRIO Upward Bound, Assistance Listing No. 84.047 (UB) TRIO McNair Post-Baccalaureate Achievement, Assistance Listing No. 84.217 (McNair) Award years: 2021‐2022 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Student Support Services Program Annual Performance Report (OMB No. 1840-0525) – Grantees must submit an annual performance report to ED each year of the project period. Upward Bound, and Upward Bound Math-Science Programs Annual Performance Report (OMB No. 1840-0831) – Grantees must submit an annual performance report to ED each year of the project period. Ronald E. McNair Post-Baccalaureate Achievement Program Performance Report (OMB No. 1840-0640) – Grantees must submit an annual performance report to the department each year of the project period. Condition: The University’s internal controls over the review of annual performance reports for the TRIO Cluster programs, SSS, UB, and McNair, are not designed with enough precision that would allow for the identification of errors in student data entered as part of the annual performance reporting process. Questioned costs: $0 Context: EY selected and tested key line items reported in the annual performance reports for 2021-2022 for 40 students across SSS, UB, and McNair. The 2021-2022 annual performance reports were submitted in fiscal year 2022-2023. We observed that there was not a precise enough control in place to ensure that the individual student data entered for the annual performance reports was accurate. We did observe a high-level control for the review of the annual performance report by the program directors; however, this control was not designed to identify errors in the data entered for the individual students. Expenditures for the TRIO Cluster programs totaled $1,476,031 for the fiscal year ended May 31, 2023, comprised of $275,451 for SSS, $957,166 for UB, and $243,414 for McNair. Effect: The Department of Education uses the information conveyed in the annual performance report to assess a grantee’s progress in meeting its approved goals and objectives and to evaluate a grantee’s prior experience in accordance with the program regulations. It is important that the information reported is accurate. Cause: The University did not have effective internal controls in place to ensure accurate information was reported in the annual performance reports. Identification as a repeat finding, if applicable: N/A Recommendation: The University should review its internal controls over the preparation and review of annual performance reports and design an additional control to review the individual student data entered for the annual performance reports for accuracy prior to submitting the annual performance reports to the U.S. Department of Education. The University should retain evidence of the performance of the review controls. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a corrective action plan.
Finding 2023‐001 – Special Tests and Provisions – Disbursements Information on the federal program: Federal awarding agency: United States Department of Education (ED) Federal Program: Student Financial Assistance Cluster: Federal Direct Student Loans, Assistance Listing No. 84.268 Award years: 2022‐2023 Criteria or specific requirement (including statutory, regulatory or other citation): 2 CFR 200.303 requires that a non-federal entity must (a) establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statutes, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States and the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The institution must notify the student, or parent, in writing of (1) the date and amount of the disbursement; (2) the student’s right, or parent’s right, to cancel all or a portion of that loan or loan disbursement and have the loan proceeds returned to the holder of that loan or the TEACH Grant payments returned to ED; and (3) the procedure and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, TEACH Grant, or TEACH Grant disbursement. The notification requirement for loan funds applies only if the funds are disbursed by EFT payment or master check (34 CFR 668.165). Institutions that implement an affirmative confirmation process (as described in 34 CFR 668.165 (a)(6)(i)) must make this notification to the student or parent no earlier than 30 days before, and no later than 30 days after, crediting the student’s account at the institution with Direct Loan or TEACH Grants. Institutions that do not implement an affirmative confirmation process must notify a student no earlier than 30 days before, but no later than seven days after, crediting the student’s account and must give the student 30 days (instead of 14) to cancel all or part of the loan. Condition: St. Mary’s University’s (the University) relies on a tool to automatically send out notifications to students receiving Federal Direct Student Loans (direct loans). The code within the tool did not have appropriate parameters to initiate a notification for all date ranges of disbursements during the fiscal year. Questioned costs: $0 Context: EY randomly selected and tested 40 students receiving direct loans totaling $686,677 during 2022-2023 from a population of 1,878 students receiving direct loans totaling $38,371,477. EY noted one of the 40 students did not receive a loan notification from the University. During our testing of disbursements, specifically loan notifications, we noted that the tool used to send notifications after a direct loan was generated was not coded properly. EY noted that the student who did not receive a loan notification received a direct loan disbursement in August 2022 for the 2021-2022 aid year. The University indicated that the loan notification was not sent by the tool due to the direct loan disbursement occurring in late Summer 2022 and the tool’s code not being designed to identify the late Summer 2022 loans that originated during the aid year 2021-2022 since the new aid year of 2022-2023 had begun. Effect: If the tool’s programming for direct loan notifications to students is not coded properly, loan notifications may not be sent to students, as required. Cause: The University’s tool used to automate the direct loan notification process was coded inappropriately. Identification as a repeat finding, if applicable: N/A Recommendation: The University should periodically review the code within the tool to ensure it is accurate and will appropriately generate loan notifications to all students receiving direct loans, as required by federal regulations. Views of responsible officials and planned corrective actions: Management agrees with the finding and has developed a plan to correct the finding.