FAC Explorer

Audit 325812

FY End
2024-05-31
Total Expended
$21.92M
Findings
8
Programs
4
Organization: Ringling College of Art and Design (FL)
Year: 2024 Accepted: 2024-10-24
Auditor: Cherry Bekaert LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
503622 2024-001 - - N
503623 2024-001 - - N
503624 2024-001 - - N
503625 2024-001 - - N
1080064 2024-001 - - N
1080065 2024-001 - - N
1080066 2024-001 - - N
1080067 2024-001 - - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $19.27M Yes 1
84.063 Federal Pell Grant Program $2.10M Yes 1
84.033 Federal Work-Study Program $333,346 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $219,198 Yes 1

Contacts

Name Title Type
K8DNYZHT5353 Jennifer Price Auditee
9413094381 Brian Liffick Auditor
No contacts on file

Notes to SEFA

Title: NOTE 3—CONTINGENCY Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of Ringling College of Art and Design and is presented on the accrual basis of accounting. The information in this schedule is presented 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 of Federal Awards (Uniform Guidance) and Chapter 10.650, Rules of the Florida Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. There were no subrecipient expenditures during the fiscal year ended May 31, 2024. De Minimis Rate Used: N Rate Explanation: The College did not elect to utilize the 10% de minimis indirect cost rate during the year ended May 31, 2024. The grant revenue amounts are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agency as a result of such and audit, any claim for reimbursement to the grantor agency would become a liability to the College. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal laws and regulations.

Finding Details

Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.
Finding 2024-001
Finding 2024-001 – Student Financial Aid Cluster, Assistance Listing # 84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions - Enrollment Reporting Condition: The College had not reported changes of all the sampled withdrawn or graduate students to the NSLDS as required under the Uniform Grant Guidance for the year ended May 31, 2024 accurately or timely. Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the NSLDS within 60 days of the change. Cause: The College did not have a monitoring mechanism in place that would have alerted them to this deficiency in the system reporting. Context: The College sent three changes related to withdrawn students to the National Student Loan Data System (“NSLDS”) with incorrect statuses and updated the status after 60 days and submitted the status change related to two graduated students after 60 days. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture student status changes so that they can be reported to the NSLDS. Management Response: The College concurs with this finding. See attached management’s corrective action plan.