FAC Explorer

Audit 328535

FY End
2024-06-30
Total Expended
$7.90M
Findings
10
Programs
24
Organization: Swarthmore College (PA)
Year: 2024 Accepted: 2024-11-15
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
508025 2024-001 Significant Deficiency - N
508026 2024-001 Significant Deficiency - N
508027 2024-001 Significant Deficiency - N
508028 2024-001 Significant Deficiency - N
508029 2024-001 Significant Deficiency - N
1084467 2024-001 Significant Deficiency - N
1084468 2024-001 Significant Deficiency - N
1084469 2024-001 Significant Deficiency - N
1084470 2024-001 Significant Deficiency - N
1084471 2024-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $3.03M Yes 1
84.063 Federal Pell Grant Program $1.96M Yes 1
84.425 Education Stabilization Fund $564,716 - 0
84.033 Federal Work-Study Program $235,684 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $217,004 Yes 1
47.049 Mathematical and Physical Sciences $107,887 - 0
47.076 Stem Education (formerly Education and Human Resources) $81,579 - 0
93.396 Cancer Biology Research $63,911 - 0
96.007 Social Security Research and Demonstration $62,718 - 0
93.113 Environmental Health $62,453 - 0
93.837 Cardiovascular Diseases Research $61,889 - 0
93.853 Extramural Research Programs in the Neurosciences and Neurological Disorders $48,163 - 0
84.305 Education Research, Development and Dissemination $41,199 - 0
11.609 Measurement and Engineering Research and Standards $33,521 - 0
45.149 Promotion of the Humanities Division of Preservation and Access $32,718 - 0
47.079 Office of International Science and Engineering $32,321 - 0
81.135 Advanced Research Projects Agency - Energy $30,990 - 0
43.001 Science $15,005 - 0
84.038 Outstanding Loans As of July 1, 2023 $10,694 Yes 1
81.049 Office of Science Financial Assistance Program $7,239 - 0
93.173 Research Related to Deafness and Communication Disorders $7,019 - 0
47.070 Computer and Information Science and Engineering $5,500 - 0
93.859 Biomedical Research and Research Training $1,569 - 0
47.074 Biological Sciences $143 - 0

Contacts

Name Title Type
KPALJZQMJAX6 Christy Brydges Auditee
6103288390 Sara Doyle Auditor
No contacts on file

Notes to SEFA

Title: FEDERAL DIRECT STUDENT LOAN PROGRAM (FEDERAL ASSISTANCE LISTING #84.268) Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Swarthmore College (the College). The information in this Schedule is presented on the accrual basis of accounting in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some information presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the College and agencies and departments of the federal government and all sub-awards to the College by nonfederal organizations pursuant to federal grants, contacts and similar agreements. De Minimis Rate Used: N Rate Explanation: The College applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. The College is responsible for the performance of certain administrative duties with respect to the Federal Direct Loan Program (Federal Stafford, Federal Parents Loans for Undergraduate Students and Unsubsidized Federal Stafford Loans). These loan programs collectively are Assistance Listing #84.268. It is not practical to determine the balance of loans outstanding to students and former students of the College under these generally guaranteed loan programs at June 30, 2024.
Title: FEDERAL PERKINS LOAN PROGRAM (FEDERAL ASSISTANCE LISTING #84.038) Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Swarthmore College (the College). The information in this Schedule is presented on the accrual basis of accounting in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some information presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the College and agencies and departments of the federal government and all sub-awards to the College by nonfederal organizations pursuant to federal grants, contacts and similar agreements. De Minimis Rate Used: N Rate Explanation: The College applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. The loan program noted above is administered directly by the College and balances and transactions relating to these programs are included in the College’s financial statements. The amount of Federal Perkins Loans outstanding at June 30, 2024 totaled $785. Loans outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule.
Title: STUDENT FINANCIAL AID INSTITUTIONAL AND PROGRAM ELIGIBILITY METRICS Accounting Policies: BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Swarthmore College (the College). The information in this Schedule is presented on the accrual basis of accounting in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some information presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the College and agencies and departments of the federal government and all sub-awards to the College by nonfederal organizations pursuant to federal grants, contacts and similar agreements. De Minimis Rate Used: N Rate Explanation: The College applies its predetermined approved facilities and administrative rate when charging indirect costs to federal awards rather than the 10% de minimis cost rate as described in Section 200.414 of the Uniform Guidance. The Institution is in compliance with the following institutional and program eligibility requirements under the Higher Education Act of 1965 and Federal regulations under 34 CFR 668.23: • Correspondence courses the institution offers under 34 CFR 600.7(b) and (g) • Regular students that enroll in correspondence courses under 34 CFR 600.7(b) and (g) • Institution’s regular students that are incarcerated under 34 CFR 600.7(c) and (g) • Completion rates for confined or incarcerated individuals enrolled in non-degree programs at nonprofit institutions under 34 CFR 600.7(c)(3)(ii) and (g) • Institution’s regular students that lack a high school diploma or its equivalent under 34 CFR 600.7(d) and (g) • Completion rates for short-term programs under 34 CFR 668.8(f) and (g) • Placement rates for short-term programs under https://www.ecfr.gov/current/title- 34/subtitle-B/chapter-VI/part-668/subpart-A/section-668.8 34 CFR 668.8(e)(2)

Finding Details

Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
2024 – 001 Title IV Credit Balance Refund Federal Agency: U.S. Department of Education Federal Program Name: Student Financial Assistance Cluster Federal Assistance Listing Number: 84.007, 84.033, 84.038, 84.063, 84.268 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.164(e) states, that whenever an institution disburses Title IV program funds by crediting a student's account and the total amount of all Title IV funds credited exceeds the amount of tuition and fees, room and board, and other authorized charges the institution assessed the student, the institution must pay the resulting credit balance directly to the student or parent as soon as possible but— (1) No later than 14 days after the balance occurred if the credit balance occurred after the first day of class of a payment period; or (2) No later than 14 days after the first day of class of a payment period if the credit balance occurred on or before the first day of class of that payment period. Condition: During our testing, we noted one student's credit balance was not refunded within 14 days. Questioned costs: $3,711 Context: During our testing, we noted that one student was owed a Title IV credit refund as of January 2024 that was not refunded until April 2024. Cause: The report used by the College to monitor Title IV credit balance refunds, did not include all the information to capture this student. Effect: The College did not refund the student within 14 days. Repeat Finding: No. Recommendation: We recommend the College evaluate its policies and procedures to ensure there is a process in place to ensure timely refund of Title IV credit balances. Views of responsible officials: There is no disagreement with the audit finding.