Audit 300952

Criteria According to 34 CFR 668.22(e)(4): Total amount of unearned Title IV assistance to be returned. The unearned amount of Title IV assistance to be returned is calculated by subtracting the amount of Title IV assistance earned by the student as calculated under paragraph (e)(1) of this section from the amount of Title IV aid that was disbursed to the student as of the date of the institution's determination that the student withdrew. Condition The Financial Aid Office is responsible for completing the Return of Title IV calculation to determine how much Title IV aid the student earned and how much must be returned to the Department of Education. Once the Return of Title IV calculation is completed, the College is responsible for adjusting the student’s billing statement and returning unearned Title IV funds through the U.S. Department of Education’s Grant Management System (“G6”). During our testing we noted two students’ calculations out of a sample of forty where the aid returned was different than the amount correctly calculated on the Return to Title IV (“R2T4”) form. Cause The College has policies and procedures to ensure compliance for calculating the Title IV funds to be returned. The College did not ensure proper review of the refunding of the Title IV funds when calculating the amount of aid to be returned. Effect The College did not return the appropriate amount of Title IV funds to the Department of Education. Questioned Costs $590 Perspective Our sample was not, and was not intended to be, statistically valid. Of the 40 students selected for testing, 2 students, or 5% of our sample, had refund amounts that were inaccurately returned to the federal government. Identification as a Repeat Finding, if applicable Not applicable. Recommendation The College should provide training to employees responsible for completing the Return of Title IV calculations and ensure that they have adequate knowledge in the related rules and regulations. The College should implement a formal review process of the Return of Title IV calculations by an individual with proper knowledge of the federal regulations. View of Responsible Officials The College agrees with the finding. The Student Financial Services department experienced employee turnover in fiscal year 2023. The Associate Director tasked with checking the refunds did not do as thorough a job as management was led to believe and separated from the College just before the end of FY23. The remaining staff was challenged to learn and process the Return of Title IV calculations in a short turnaround, while being short-staffed.

Criteria According to 34 CFR 668.22(e)(4): Total amount of unearned Title IV assistance to be returned. The unearned amount of Title IV assistance to be returned is calculated by subtracting the amount of Title IV assistance earned by the student as calculated under paragraph (e)(1) of this section from the amount of Title IV aid that was disbursed to the student as of the date of the institution's determination that the student withdrew. Condition The Financial Aid Office is responsible for completing the Return of Title IV calculation to determine how much Title IV aid the student earned and how much must be returned to the Department of Education. Once the Return of Title IV calculation is completed, the College is responsible for adjusting the student’s billing statement and returning unearned Title IV funds through the U.S. Department of Education’s Grant Management System (“G6”). During our testing we noted two students’ calculations out of a sample of forty where the aid returned was different than the amount correctly calculated on the Return to Title IV (“R2T4”) form. Cause The College has policies and procedures to ensure compliance for calculating the Title IV funds to be returned. The College did not ensure proper review of the refunding of the Title IV funds when calculating the amount of aid to be returned. Effect The College did not return the appropriate amount of Title IV funds to the Department of Education. Questioned Costs $590 Perspective Our sample was not, and was not intended to be, statistically valid. Of the 40 students selected for testing, 2 students, or 5% of our sample, had refund amounts that were inaccurately returned to the federal government. Identification as a Repeat Finding, if applicable Not applicable. Recommendation The College should provide training to employees responsible for completing the Return of Title IV calculations and ensure that they have adequate knowledge in the related rules and regulations. The College should implement a formal review process of the Return of Title IV calculations by an individual with proper knowledge of the federal regulations. View of Responsible Officials The College agrees with the finding. The Student Financial Services department experienced employee turnover in fiscal year 2023. The Associate Director tasked with checking the refunds did not do as thorough a job as management was led to believe and separated from the College just before the end of FY23. The remaining staff was challenged to learn and process the Return of Title IV calculations in a short turnaround, while being short-staffed.