FAC Explorer

Audit 307695

FY End
2023-08-31
Total Expended
$18.63M
Findings
4
Programs
6
Organization: Wagner College (NY)
Year: 2023 Accepted: 2024-05-31
Auditor: Grant Thornton LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
399075 2023-002 Significant Deficiency Yes N
399076 2023-002 Significant Deficiency Yes N
975517 2023-002 Significant Deficiency Yes N
975518 2023-002 Significant Deficiency Yes N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $14.24M Yes 1
84.063 Federal Pell Grant Program $1.92M Yes 1
84.038 Federal Perkins Loan Program $1.23M Yes 0
93.364 Nursing Student Loans $755,716 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $374,149 Yes 0
84.033 Federal Work-Study Program $105,344 Yes 0

Contacts

Name Title Type
JUMFE3NSPJJ3 John Carrescia Auditee
7184204264 Sara D'agostino Auditor
No contacts on file

Notes to SEFA

Title: BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of Wagner College (the “College”) for the year ended August 31, 2023. The information presented in this Schedule has been prepared using the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Accordingly, some amounts presented in the accompanying Schedule may differ from amounts presented in, or used in, the preparation of the College’s 2023 financial statements. During the year ended August 31, 2023, the College provided no awards to sub-recipients. The College recognizes expenditures for federal student financial assistance programs as they are incurred. Student financial assistance program expenditures include Federal Pell Grants to students, the federal share of Federal Supplemental Educational Opportunity Grants (“FSEOG”) to students, and the federal share of Federal Work-Study (“FWS”) student wages, as well as loans disbursed to students under the Federal Perkins, Nursing Student, and Direct Student Loan programs and each program’s administrative cost allowance, if any. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of Wagner College (the “College”) for the year ended August 31, 2023. The information presented in this Schedule has been prepared using the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Accordingly, some amounts presented in the accompanying Schedule may differ from amounts presented in, or used in, the preparation of the College’s 2023 financial statements. During the year ended August 31, 2023, the College provided no awards to sub-recipients.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FOR FEDERAL AWARDS Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of Wagner College (the “College”) for the year ended August 31, 2023. The information presented in this Schedule has been prepared using the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Accordingly, some amounts presented in the accompanying Schedule may differ from amounts presented in, or used in, the preparation of the College’s 2023 financial statements. During the year ended August 31, 2023, the College provided no awards to sub-recipients. The College recognizes expenditures for federal student financial assistance programs as they are incurred. Student financial assistance program expenditures include Federal Pell Grants to students, the federal share of Federal Supplemental Educational Opportunity Grants (“FSEOG”) to students, and the federal share of Federal Work-Study (“FWS”) student wages, as well as loans disbursed to students under the Federal Perkins, Nursing Student, and Direct Student Loan programs and each program’s administrative cost allowance, if any. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The College recognizes expenditures for federal student financial assistance programs as they are incurred. Student financial assistance program expenditures include Federal Pell Grants to students, the federal share of Federal Supplemental Educational Opportunity Grants (“FSEOG”) to students, and the federal share of Federal Work-Study (“FWS”) student wages, as well as loans disbursed to students under the Federal Perkins, Nursing Student, and Direct Student Loan programs and each program’s administrative cost allowance, if any.
Title: FEDERAL STUDENT LOAN PROGRAMS Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of Wagner College (the “College”) for the year ended August 31, 2023. The information presented in this Schedule has been prepared using the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Accordingly, some amounts presented in the accompanying Schedule may differ from amounts presented in, or used in, the preparation of the College’s 2023 financial statements. During the year ended August 31, 2023, the College provided no awards to sub-recipients. The College recognizes expenditures for federal student financial assistance programs as they are incurred. Student financial assistance program expenditures include Federal Pell Grants to students, the federal share of Federal Supplemental Educational Opportunity Grants (“FSEOG”) to students, and the federal share of Federal Work-Study (“FWS”) student wages, as well as loans disbursed to students under the Federal Perkins, Nursing Student, and Direct Student Loan programs and each program’s administrative cost allowance, if any. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule includes expenditures of $1,227,334 and $755,716 related to the Federal Perkins Loan and the Nursing Student Loan Programs, respectively, which are comprised of the value of new loans made during fiscal 2023, if any, plus the program’s beginning of the year balance for which the College retains continuing compliance requirements, as stipulated by §200.502 of the Uniform Guidance. In fiscal 2023, there were no federal capital contributions or matching requirements related to the Federal Perkins Loan program or the Nursing Student Loan program. The following provides information about Federal Perkins Loans and Nursing Student Loans activity for the year ended August 31, 2023: Federal Perkins Loan Program - Federal Assistance Listing Number 84.038, Balance as of August 31, 2022 - $1,227,334, Loans Issued - $0, Payments Received - ($769,390), Balance as of August 31, 2023 - $457,944. Nursing Student Loan Program - Federal Assistance Listing Number 93.364, Balance as of August 31, 2022 - $634,466, Loans Issued - $121,250, Payments Received - ($94,947), Balance as of August 31, 2023 - $660,769. With respect to the Federal Direct Student Loan Program, the College is responsible only for the performance of certain administrative duties; therefore, the net assets and transactions for this program are not included in the College’s financial statements. It is not practical to estimate the amount of loans outstanding to students of the College under this program at August 31, 2023.
Title: ADMINISTRATIVE COST ALLOWANCE AND INDIRECT COST RATE Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant expenditures of Wagner College (the “College”) for the year ended August 31, 2023. The information presented in this Schedule has been prepared using the accrual basis of accounting and is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Accordingly, some amounts presented in the accompanying Schedule may differ from amounts presented in, or used in, the preparation of the College’s 2023 financial statements. During the year ended August 31, 2023, the College provided no awards to sub-recipients. The College recognizes expenditures for federal student financial assistance programs as they are incurred. Student financial assistance program expenditures include Federal Pell Grants to students, the federal share of Federal Supplemental Educational Opportunity Grants (“FSEOG”) to students, and the federal share of Federal Work-Study (“FWS”) student wages, as well as loans disbursed to students under the Federal Perkins, Nursing Student, and Direct Student Loan programs and each program’s administrative cost allowance, if any. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. For the year ended August 31, 2023, the College claimed an administrative cost allowance under the Federal Work Study Program of $29,860 and no administrative cost allowance related to the FSEOG Program and the Federal Pell Grant Program. In addition, the College has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.

Finding Details

Finding 2023-002
Finding 2023-002 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2022-2023 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: • Office of Postsecondary Education Identifier (“OPEID”); • Enrollment status; and • Enrollment effective date. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and • Classification of Instructional Program (“CIP”) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 13 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College’s enrollment and financial aid system has been programmed to report such information, the identified students’ program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 13 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes Recommendation: The College should implement procedures to ensure that students’ program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: The College agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Management continues to work on its process for reviewing and updating all program enrollment data accurately to the NSLDS. Various departments at the College have been working collaboratively to correct the reporting of program begin dates for all students, and we expect completion of this work to occur during this fiscal year.
Finding 2023-002
Finding 2023-002 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2022-2023 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: • Office of Postsecondary Education Identifier (“OPEID”); • Enrollment status; and • Enrollment effective date. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and • Classification of Instructional Program (“CIP”) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 13 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College’s enrollment and financial aid system has been programmed to report such information, the identified students’ program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 13 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes Recommendation: The College should implement procedures to ensure that students’ program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: The College agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Management continues to work on its process for reviewing and updating all program enrollment data accurately to the NSLDS. Various departments at the College have been working collaboratively to correct the reporting of program begin dates for all students, and we expect completion of this work to occur during this fiscal year.
Finding 2023-002
Finding 2023-002 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2022-2023 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: • Office of Postsecondary Education Identifier (“OPEID”); • Enrollment status; and • Enrollment effective date. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and • Classification of Instructional Program (“CIP”) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 13 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College’s enrollment and financial aid system has been programmed to report such information, the identified students’ program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 13 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes Recommendation: The College should implement procedures to ensure that students’ program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: The College agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Management continues to work on its process for reviewing and updating all program enrollment data accurately to the NSLDS. Various departments at the College have been working collaboratively to correct the reporting of program begin dates for all students, and we expect completion of this work to occur during this fiscal year.
Finding 2023-002
Finding 2023-002 Special Tests and Provisions - Enrollment Reporting Compliance and Internal Control (Significant Deficiency) U.S. Department of Education - Student Financial Assistance Cluster Federal Direct Student Loans (ALN 84.268) Federal Award Number: P268K211912 Federal Pell Grant Program (ALN 84.063) Federal Award Number: P063P201912 Federal Award Year: 2022-2023 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required campus-level data includes: • Office of Postsecondary Education Identifier (“OPEID”); • Enrollment status; and • Enrollment effective date. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and • Classification of Instructional Program (“CIP”) code. Context and Condition: From a selection of forty (40) students tested, we identified the following instance of noncompliance: 1) For 13 students, the program begin dates that were reported to the NSLDS did not reflect the first day of the earliest semester in which such students began attending the respective programs being reported. Cause: Due to the manner in which the College’s enrollment and financial aid system has been programmed to report such information, the identified students’ program begin dates were inaccurately reported to the NSLDS. Effect: The program begin dates for 13 students were not properly reported to the NSLDS. Questioned Costs: None identified. Identified as a Repeat Finding: Yes Recommendation: The College should implement procedures to ensure that students’ program begin dates are reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. Views of Responsible Officials: The College agrees and understands the significance of accurate enrollment reporting to the NSLDS, including all campus-level and program-level enrollment data. Management continues to work on its process for reviewing and updating all program enrollment data accurately to the NSLDS. Various departments at the College have been working collaboratively to correct the reporting of program begin dates for all students, and we expect completion of this work to occur during this fiscal year.