Audit 334419

FY End
2024-05-31
Total Expended
$61.24M
Findings
6
Programs
7
Organization: Berklee College of Music, Inc. (MA)
Year: 2024 Accepted: 2024-12-20
Auditor: Kpmg

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
516508 2024-001 Material Weakness - N
516509 2024-002 Significant Deficiency - N
516510 2024-002 Significant Deficiency - N
1092950 2024-001 Material Weakness - N
1092951 2024-002 Significant Deficiency - N
1092952 2024-002 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $50.05M Yes 2
84.063 Federal Pell Grant Program $6.77M Yes 1
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $1.40M - 0
84.038 Federal Perkins Student Loans $982,059 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $954,175 Yes 0
84.425E Education Stabilization Fund $727,127 - 0
83.033 Federal Work-Study Program $355,287 Yes 0

Contacts

Name Title Type
TCWKF9ZEMP35 F John Case Auditee
7066141725 Robert Mahoney Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The Schedule is presented on the accrual basis and in accordance with the provisions 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 amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The College has not elected to utilize the 10% deminimus indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal financial assistance programs of Berklee College of Music, Inc. (the College). All federal financial assistance received directly from federal agencies is included on the schedule. There was no federal financial assistance passed through to the College from non-federal entities for the year ended May 31, 2024. The College did not pass through any amounts to subrecipients for the year ended May 31, 2024.
Title: Basis of Accounting Accounting Policies: The Schedule is presented on the accrual basis and in accordance with the provisions 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 amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The College has not elected to utilize the 10% deminimus indirect cost rate allowed under the Uniform Guidance. The Schedule is presented on the accrual basis and in accordance with the provisions 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 amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Federal Perkins Loan Program Accounting Policies: The Schedule is presented on the accrual basis and in accordance with the provisions 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 amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The College has not elected to utilize the 10% deminimus indirect cost rate allowed under the Uniform Guidance. The College administers the Federal Perkins Loan Program. The authority to award new loans to undergraduate students expired in 2017 and no disbursements have been permitted after May 31, 2018. The amount included on the schedule of expenditures of federal awards includes the outstanding balance as of May 31, 2023 of $982,059. In April 2024, the College completed liquidation of its Federal Perkins Loan portfolio and will no longer service Perkins Loans. Fully paid Perkins Loans have been retired and all outstanding Perkins Loans have been transferred to the Department of Education for management and collection. Perkins Loan portfolio liquidation procedures were included in the scope of the College’s Uniform Guidance audit for the year ended May 31, 2024.
Title: Federal Direct Loan Program Accounting Policies: The Schedule is presented on the accrual basis and in accordance with the provisions 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 amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The College has not elected to utilize the 10% deminimus indirect cost rate allowed under the Uniform Guidance. During the year ended May 31, 2024, the College processed $50,051,572 of new loans under the Federal Direct Loan Program (which includes Direct Subsidized and Unsubsidized Stafford Loans and Direct Parents’ Loan for Undergraduate Students). With respect to the Federal Direct Loan Program, the College is responsible only for the performance of certain administrative duties and, accordingly, these loan balances are not included in the College’s financial statements. It is not practical to determine the balances of loans outstanding from students of the College under this program at May 31, 2024.
Title: Indirect Cost Rate Accounting Policies: The Schedule is presented on the accrual basis and in accordance with the provisions 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 amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The College has not elected to utilize the 10% deminimus indirect cost rate allowed under the Uniform Guidance. The College has not elected to utilize the 10% deminimus indirect cost rate allowed under the Uniform Guidance.

Finding Details

Criteria When Direct Loans or TEACH funds are being credited to a student’s account, the institution must notify the student, or parent, in writing of (1) the date and amount of the disbursement; (2) the student’s right, or parent’s right, to cancel all or a portion of that loan or loan disbursement and have the loan proceeds returned to the holder of that loan or the TEACH Grant payments returned to ED; and (3) the procedure and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, TEACH Grant, or TEACH Grant disbursement (a minimum of 14 or 30 days depending on the confirmation process). Institutions that do not implement an affirmative confirmation process (as described in 34 CFR 668.165 (a)(6)(i)) must notify a student no earlier than 30 days before, but no later than seven days after, crediting the student’s account and must give the student 30 days (instead of 14) to cancel all or part of the loan. Title 2 U.S. Code of Federal Regulations Part 200 (2CFR 200) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Condition During our testing of student loan disbursement notifications, KPMG identified that four of forty students selected for testwork received notifications beyond seven days after the students’ accounts had been credited. The exceptions described above did not result in changes to the amounts awarded or disbursed to students by the College for the current fiscal year. Cause The condition resulted from the College’s internal control processes not operating consistently to ensure that all disbursement notifications were made in a timely manner. Specifically, the College has implemented an automated process to send disbursement notifications on a routine basis using student or parent contact information that is maintained in the system. However, in instances where these automated disbursement notifications came back as undeliverable due to inaccuracies in contact information (exceptions), the College did not implement effective internal control processes to ensure that these exceptions were resolved within the requisite timeframe. Possible Asserted Effect Failure to notify students of the timing of disbursements, as well as timely notifying students of their rights related to those disbursements and the procedures and timelines for cancellation, could have resulted in students not being aware that a disbursement was made or receiving loans that they did not intend to keep. Questioned Costs None. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Identification of Whether the Audit Finding was a Repeat Finding This is not a repeat finding. Recommendation We recommend that the College review and enhance its processes related to disbursement notifications to ensure that they are complying with federal requirements. Views of Responsible Officials Management concurs with the recommendations provided. To remediate this issue, there are new personnel assigned to complete the process and ensure there are no gaps. The Director of Financial Aid Operations will ensure that the process is run timely. Berklee has changed the notification date to align with the disbursement date. This will ensure that notices are sent on day zero. In addition, errors are reviewed and addressed within two business days. Estimated Date of Completion: March 31, 2025
Criteria Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the NSLDS. 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 certify 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 (NSDLSFAP) website. 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. Title 2 U.S. Code of Federal Regulations Part 200 (2CFR 200) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Condition In testing the Program-Level enrollment reporting data elements, key items to test, if applicable, are: OPEID Number, CIP Code, CIP Year, Credential Level, Published Program Length Measurement, Published Program Length, Program Begin Date, Program Enrollment Status, and Program Enrollment Effective Date. Of the 40 students with enrollment changes that we selected for testwork, KPMG identified 2 students whose program level enrollment data elements were not accurately transmitted to NSLDS. Specifically, KPMG identified that 2 students’ Published Program Lengths, as reported to NSLDS, did not agree to the College’s records. The exceptions described above did not result in changes to the amounts awarded or disbursed to students by the College for the current fiscal year. Cause The condition resulted from the College’s internal control processes not operating consistently to ensure that all changes in enrollment information at both a campus level and program level were accurately reported to NSLDS. Specifically, the College’s control of reviewing the key enrollment reporting data elements for accuracy was not operating at a level of precision that would cover all key data elements. Possible Asserted Effect Inaccurate submission of student enrollment status information and related program information affects the determinations that lenders and servicers of students’ loans make related to in-school status, deferments, grace periods, and repayment schedules, as well as the federal government’s payment of interest subsidies. Questioned Costs None. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Identification of Whether the Audit Finding was a Repeat Finding This is not a repeat finding. Recommendation We recommend the College review and enhance its process related to enrollment reporting to ensure that all status change key data elements that are reported to NSLDS agree to the College’s records. Views of Responsible Officials Management concurs with the recommendations provided. The Registrar’s Office will implement a reconciliation of the Student Enrollment Information system and data provided to NSC (the National Student Clearinghouse). The reconciliations will be reviewed by the Associate Registrar and confirmed by the Registrar before submission to ensure that it’s performed timely and accurately. Notifications or any discrepancies will be sent to NSC immediately informing them of any necessary corrections. Estimated Date of Completion: March 31, 2025
Criteria Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the NSLDS. 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 certify 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 (NSDLSFAP) website. 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. Title 2 U.S. Code of Federal Regulations Part 200 (2CFR 200) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Condition In testing the Program-Level enrollment reporting data elements, key items to test, if applicable, are: OPEID Number, CIP Code, CIP Year, Credential Level, Published Program Length Measurement, Published Program Length, Program Begin Date, Program Enrollment Status, and Program Enrollment Effective Date. Of the 40 students with enrollment changes that we selected for testwork, KPMG identified 2 students whose program level enrollment data elements were not accurately transmitted to NSLDS. Specifically, KPMG identified that 2 students’ Published Program Lengths, as reported to NSLDS, did not agree to the College’s records. The exceptions described above did not result in changes to the amounts awarded or disbursed to students by the College for the current fiscal year. Cause The condition resulted from the College’s internal control processes not operating consistently to ensure that all changes in enrollment information at both a campus level and program level were accurately reported to NSLDS. Specifically, the College’s control of reviewing the key enrollment reporting data elements for accuracy was not operating at a level of precision that would cover all key data elements. Possible Asserted Effect Inaccurate submission of student enrollment status information and related program information affects the determinations that lenders and servicers of students’ loans make related to in-school status, deferments, grace periods, and repayment schedules, as well as the federal government’s payment of interest subsidies. Questioned Costs None. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Identification of Whether the Audit Finding was a Repeat Finding This is not a repeat finding. Recommendation We recommend the College review and enhance its process related to enrollment reporting to ensure that all status change key data elements that are reported to NSLDS agree to the College’s records. Views of Responsible Officials Management concurs with the recommendations provided. The Registrar’s Office will implement a reconciliation of the Student Enrollment Information system and data provided to NSC (the National Student Clearinghouse). The reconciliations will be reviewed by the Associate Registrar and confirmed by the Registrar before submission to ensure that it’s performed timely and accurately. Notifications or any discrepancies will be sent to NSC immediately informing them of any necessary corrections. Estimated Date of Completion: March 31, 2025
Criteria When Direct Loans or TEACH funds are being credited to a student’s account, the institution must notify the student, or parent, in writing of (1) the date and amount of the disbursement; (2) the student’s right, or parent’s right, to cancel all or a portion of that loan or loan disbursement and have the loan proceeds returned to the holder of that loan or the TEACH Grant payments returned to ED; and (3) the procedure and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, TEACH Grant, or TEACH Grant disbursement (a minimum of 14 or 30 days depending on the confirmation process). Institutions that do not implement an affirmative confirmation process (as described in 34 CFR 668.165 (a)(6)(i)) must notify a student no earlier than 30 days before, but no later than seven days after, crediting the student’s account and must give the student 30 days (instead of 14) to cancel all or part of the loan. Title 2 U.S. Code of Federal Regulations Part 200 (2CFR 200) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Condition During our testing of student loan disbursement notifications, KPMG identified that four of forty students selected for testwork received notifications beyond seven days after the students’ accounts had been credited. The exceptions described above did not result in changes to the amounts awarded or disbursed to students by the College for the current fiscal year. Cause The condition resulted from the College’s internal control processes not operating consistently to ensure that all disbursement notifications were made in a timely manner. Specifically, the College has implemented an automated process to send disbursement notifications on a routine basis using student or parent contact information that is maintained in the system. However, in instances where these automated disbursement notifications came back as undeliverable due to inaccuracies in contact information (exceptions), the College did not implement effective internal control processes to ensure that these exceptions were resolved within the requisite timeframe. Possible Asserted Effect Failure to notify students of the timing of disbursements, as well as timely notifying students of their rights related to those disbursements and the procedures and timelines for cancellation, could have resulted in students not being aware that a disbursement was made or receiving loans that they did not intend to keep. Questioned Costs None. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Identification of Whether the Audit Finding was a Repeat Finding This is not a repeat finding. Recommendation We recommend that the College review and enhance its processes related to disbursement notifications to ensure that they are complying with federal requirements. Views of Responsible Officials Management concurs with the recommendations provided. To remediate this issue, there are new personnel assigned to complete the process and ensure there are no gaps. The Director of Financial Aid Operations will ensure that the process is run timely. Berklee has changed the notification date to align with the disbursement date. This will ensure that notices are sent on day zero. In addition, errors are reviewed and addressed within two business days. Estimated Date of Completion: March 31, 2025
Criteria Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the NSLDS. 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 certify 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 (NSDLSFAP) website. 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. Title 2 U.S. Code of Federal Regulations Part 200 (2CFR 200) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Condition In testing the Program-Level enrollment reporting data elements, key items to test, if applicable, are: OPEID Number, CIP Code, CIP Year, Credential Level, Published Program Length Measurement, Published Program Length, Program Begin Date, Program Enrollment Status, and Program Enrollment Effective Date. Of the 40 students with enrollment changes that we selected for testwork, KPMG identified 2 students whose program level enrollment data elements were not accurately transmitted to NSLDS. Specifically, KPMG identified that 2 students’ Published Program Lengths, as reported to NSLDS, did not agree to the College’s records. The exceptions described above did not result in changes to the amounts awarded or disbursed to students by the College for the current fiscal year. Cause The condition resulted from the College’s internal control processes not operating consistently to ensure that all changes in enrollment information at both a campus level and program level were accurately reported to NSLDS. Specifically, the College’s control of reviewing the key enrollment reporting data elements for accuracy was not operating at a level of precision that would cover all key data elements. Possible Asserted Effect Inaccurate submission of student enrollment status information and related program information affects the determinations that lenders and servicers of students’ loans make related to in-school status, deferments, grace periods, and repayment schedules, as well as the federal government’s payment of interest subsidies. Questioned Costs None. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Identification of Whether the Audit Finding was a Repeat Finding This is not a repeat finding. Recommendation We recommend the College review and enhance its process related to enrollment reporting to ensure that all status change key data elements that are reported to NSLDS agree to the College’s records. Views of Responsible Officials Management concurs with the recommendations provided. The Registrar’s Office will implement a reconciliation of the Student Enrollment Information system and data provided to NSC (the National Student Clearinghouse). The reconciliations will be reviewed by the Associate Registrar and confirmed by the Registrar before submission to ensure that it’s performed timely and accurately. Notifications or any discrepancies will be sent to NSC immediately informing them of any necessary corrections. Estimated Date of Completion: March 31, 2025
Criteria Institutions are required to report enrollment information under the Pell grant and the Direct and FFEL loan programs via the NSLDS. 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 certify 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 (NSDLSFAP) website. 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. Title 2 U.S. Code of Federal Regulations Part 200 (2CFR 200) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, section 303(a) states, the non-Federal entity must establish and maintain effective internal control over the Federal award that provides reasonable assurance that the non-Federal entity is managing the Federal award in compliance with Federal statues, regulations, and the terms and conditions of the Federal award. These internal controls should be in compliance with guidance in “Standards for Internal Control in the Federal Government” issued by the Comptroller General of the United States or the “Internal Control Integrated Framework”, issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Condition In testing the Program-Level enrollment reporting data elements, key items to test, if applicable, are: OPEID Number, CIP Code, CIP Year, Credential Level, Published Program Length Measurement, Published Program Length, Program Begin Date, Program Enrollment Status, and Program Enrollment Effective Date. Of the 40 students with enrollment changes that we selected for testwork, KPMG identified 2 students whose program level enrollment data elements were not accurately transmitted to NSLDS. Specifically, KPMG identified that 2 students’ Published Program Lengths, as reported to NSLDS, did not agree to the College’s records. The exceptions described above did not result in changes to the amounts awarded or disbursed to students by the College for the current fiscal year. Cause The condition resulted from the College’s internal control processes not operating consistently to ensure that all changes in enrollment information at both a campus level and program level were accurately reported to NSLDS. Specifically, the College’s control of reviewing the key enrollment reporting data elements for accuracy was not operating at a level of precision that would cover all key data elements. Possible Asserted Effect Inaccurate submission of student enrollment status information and related program information affects the determinations that lenders and servicers of students’ loans make related to in-school status, deferments, grace periods, and repayment schedules, as well as the federal government’s payment of interest subsidies. Questioned Costs None. Statistical Sampling The sample was not intended to be, and was not, a statistically valid sample. Identification of Whether the Audit Finding was a Repeat Finding This is not a repeat finding. Recommendation We recommend the College review and enhance its process related to enrollment reporting to ensure that all status change key data elements that are reported to NSLDS agree to the College’s records. Views of Responsible Officials Management concurs with the recommendations provided. The Registrar’s Office will implement a reconciliation of the Student Enrollment Information system and data provided to NSC (the National Student Clearinghouse). The reconciliations will be reviewed by the Associate Registrar and confirmed by the Registrar before submission to ensure that it’s performed timely and accurately. Notifications or any discrepancies will be sent to NSC immediately informing them of any necessary corrections. Estimated Date of Completion: March 31, 2025