2022-002 Student Financial Assistance Cluster U.S. Department of Education Federal Direct Student Loans ? 84.268 Criteria or specific requirement ? Management is responsible for the reconciliation of the School Account Statement (SAS) data file to the institution?s financial records. Condition ? One monthly reconciliation was not available to be provided to the auditor to support the reconciliation was completed. Questioned costs ? There were no questioned costs identified on the monthly reconciliation requested. Context ? Of the 24 monthly reconciliations for the fiscal year ended June 30, 2022, one was not available to be provided to the auditor to support the reconciliation was completed. FORVIS selected four monthly reconciliations for testing. Effect ? FORVIS was not able to verify the institution reconciled the SAS data file to their financial records. Cause ? The institution went through a system conversion during the fiscal year ended June 30, 2022. During this conversion, the reconciliation was inadvertently not imported into the new system. Recommendation ? Management should ensure that proper controls are in place to confirm monthly reconciliations of SAS data files and the institution?s financial records are completed and retained. Views of Responsible Officials and Planned Corrective Actions ? The University has updated its procedures and policies to better align with their system conversion and continues to improve internal control over reconciliation and record retention. New procedures ensure through automation that the SAS files are downloaded from the federal aid system and processed on a regular monthly occurrence. The SAS information is stored at the student level and copies of the files are maintained in a secure network folder for future retrieval. The University storage of the SAS files and student records align with the federal recommendations and regulatory requirements, ranging from 3 to 7 years.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-002 Student Financial Assistance Cluster U.S. Department of Education Federal Direct Student Loans ? 84.268 Criteria or specific requirement ? Management is responsible for the reconciliation of the School Account Statement (SAS) data file to the institution?s financial records. Condition ? One monthly reconciliation was not available to be provided to the auditor to support the reconciliation was completed. Questioned costs ? There were no questioned costs identified on the monthly reconciliation requested. Context ? Of the 24 monthly reconciliations for the fiscal year ended June 30, 2022, one was not available to be provided to the auditor to support the reconciliation was completed. FORVIS selected four monthly reconciliations for testing. Effect ? FORVIS was not able to verify the institution reconciled the SAS data file to their financial records. Cause ? The institution went through a system conversion during the fiscal year ended June 30, 2022. During this conversion, the reconciliation was inadvertently not imported into the new system. Recommendation ? Management should ensure that proper controls are in place to confirm monthly reconciliations of SAS data files and the institution?s financial records are completed and retained. Views of Responsible Officials and Planned Corrective Actions ? The University has updated its procedures and policies to better align with their system conversion and continues to improve internal control over reconciliation and record retention. New procedures ensure through automation that the SAS files are downloaded from the federal aid system and processed on a regular monthly occurrence. The SAS information is stored at the student level and copies of the files are maintained in a secure network folder for future retrieval. The University storage of the SAS files and student records align with the federal recommendations and regulatory requirements, ranging from 3 to 7 years.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.
2022-001 U.S. Department of Education ? Education Stabilization Fund COVID-19 Higher Education Emergency Relief Funds - 84.425E & 84.425F Criteria or specific requirement ? Management is responsible for the timely submission of quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Condition ? One quarterly report for the Institutional Portion and one quarterly report for the Student Aid Portion were identified by the auditor as being submitted later than 10 days after the end of each calendar quarter. Questioned costs ? There were no questioned costs identified on the submitted quarterly reports for the Institutional Portion or Student Aid Portion. Context ? Of the eight cumulative quarterly reports submitted during the fiscal year (four for the Institutional Portion funds and four for the Student Aid Portion funds), FORVIS selected four for testing (two Institutional Portion funds and two for the Student Aid Portion funds). There were two reports, one Institutional Portion report and one Student Aid Portion report, that were submitted after the required reporting deadline of 10 days after the end of each calendar quarter. Subsequently, FORVIS then reviewed the submission dates for all eight quarterly reports submitted during the year, noting no other instances of late submissions. Effect ? The required quarterly reports were not available to the public for review of the funds spent related to the Education Stabilization Fund within the required reporting deadline of 10 days after the end of each calendar quarter. Cause ? The controls ensuring reports are submitted timely were not adhered to for the respective quarter. Recommendation ? Management should ensure that proper controls are in place and adhered to ensure timely reporting submissions for quarterly public reporting for (a)(1) Institutional Portion, (a)(2), and (a)(3) funds and (a)(1) Student Aid Portion, (a)(2), and (a)(3) funds as required for the Education Stabilization Fund. Views of Responsible Officials and Planned Corrective Actions ? The December 31, 2021 quarterly reports were 18-23 days late, due to the implementation of the revenue recognition of the HEERF Funding in the general ledger. December 31, 2021 was the first quarter for recognizing the Institutional HEERF Funds as a percentage of the total awarded HEERF Student Aid. The general ledger was not closed until January 28, 2022. At that time, the website was updated with the final HEERF institutional and student numbers. Going forward, the information is submitted before closing to make sure that the report is posted within the guidelines outlined in the Public Quarterly Reporting Requirements by the U.S. Department of Education.