FAC Explorer

Audit 33151

FY End
2022-06-30
Total Expended
$10.52M
Findings
14
Programs
6
Organization: Manhattan School of Music (NY)
Year: 2022 Accepted: 2023-03-26
Auditor: Crowe LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
30556 2022-002 Significant Deficiency - N
30557 2022-002 Significant Deficiency - N
30558 2022-002 Significant Deficiency - N
30559 2022-002 Significant Deficiency - N
30560 2022-002 Significant Deficiency - N
30561 2022-001 Significant Deficiency - C
30562 2022-001 Significant Deficiency - C
606998 2022-002 Significant Deficiency - N
606999 2022-002 Significant Deficiency - N
607000 2022-002 Significant Deficiency - N
607001 2022-002 Significant Deficiency - N
607002 2022-002 Significant Deficiency - N
607003 2022-001 Significant Deficiency - C
607004 2022-001 Significant Deficiency - C

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $8.92M Yes 1
84.U38 Federal Perkins Loan $532,204 Yes 1
84.063 Federal Pell Grant Program $350,947 Yes 1
84.425 Education Stabilization Fund $52,000 Yes 1
84.033 Federal Work-Study Program $37,825 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $36,881 Yes 1

Contacts

Name Title Type
VVWCW5BPNGC6 Nathan Mortimer Auditee
9174934456 Kelly Frank Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE 1 - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule or SEFA) includes the activity of Manhattan School of Music (the "School") for the year ended June 30, 2022 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the School.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The School has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. FEDERAL PERKINS LOAN (84.U38) - Balances outstanding at the end of the audit period were 532204. FEDERAL DIRECT STUDENT LOANS (84.268) - Balances outstanding at the end of the audit period were 8915397.

Finding Details

Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-001
During fiscal year ended June 30, 2022, approximately $156,000 (or 26% of the total $597,416) of the CRRSAA and ARP student portion was disbursed more than 15 days after the G5 cash draw receipt
Finding 2022-001
During fiscal year ended June 30, 2022, approximately $156,000 (or 26% of the total $597,416) of the CRRSAA and ARP student portion was disbursed more than 15 days after the G5 cash draw receipt
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-002
For three out of forty samples tested, the students? status was not accurately reflected to the NSLDS. Additionally, the submission was not made in a timely manner
Finding 2022-001
During fiscal year ended June 30, 2022, approximately $156,000 (or 26% of the total $597,416) of the CRRSAA and ARP student portion was disbursed more than 15 days after the G5 cash draw receipt
Finding 2022-001
During fiscal year ended June 30, 2022, approximately $156,000 (or 26% of the total $597,416) of the CRRSAA and ARP student portion was disbursed more than 15 days after the G5 cash draw receipt