FAC Explorer

Audit 336933

FY End
2024-06-30
Total Expended
$1.57M
Findings
8
Programs
6
Organization: Trinity Bible College and Graduate School (ND)
Year: 2024 Accepted: 2025-01-09
Auditor: Capincrouse LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
518475 2024-001 Significant Deficiency - E
518476 2024-002 - - N
518477 2024-002 - - N
518478 2024-002 - - N
1094917 2024-001 Significant Deficiency - E
1094918 2024-002 - - N
1094919 2024-002 - - N
1094920 2024-002 - - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $748,126 Yes 2
84.063 Federal Pell Grant Program $499,050 Yes 1
84.038 Federal Perkins Loan Program $126,496 Yes 0
84.033 Federal Work-Study Program $124,691 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $58,968 Yes 1
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $13,673 Yes 0

Contacts

Name Title Type
VSCGPLJGN8Z6 Vaughn Jordan Auditee
7013495774 Christopher Gordon, CPA Auditor
No contacts on file

Notes to SEFA

Title: RELATIONSHIP TO FINANCIAL STATEMENTS Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Trinity Bible College and Graduate School (College) under programs of the federal government for the year ended June 30, 2024. The information in the schedule is presented in accordance with the requirements of the 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 basic financial statements. Expenditures in 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the College is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. See the Notes to the SEFA for chart/table
Title: SUBRECIPIENTS, NON-CASH ASSISTANCE, FEDERAL INSURANCE, LOANS, AND LOAN GUARANTEES Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Trinity Bible College and Graduate School (College) under programs of the federal government for the year ended June 30, 2024. The information in the schedule is presented in accordance with the requirements of the 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 basic financial statements. Expenditures in 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the College is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The College did not provide any federal funds to subrecipients nor did they receive any federal non-cash assistance, insurance, loans, or loan guarantees.
Title: FEDERAL PERKINS LOAN PROGRAM Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Trinity Bible College and Graduate School (College) under programs of the federal government for the year ended June 30, 2024. The information in the schedule is presented in accordance with the requirements of the 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 basic financial statements. Expenditures in 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the College is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. See the Notes to the SEFA for chart/table
Title: INSTITUTION ELIGIBILITY LIMITATIONS IN ACCORDANCE WITH 34 CFR 600.7(a)1 Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Trinity Bible College and Graduate School (College) under programs of the federal government for the year ended June 30, 2024. The information in the schedule is presented in accordance with the requirements of the 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 basic financial statements. Expenditures in 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. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. If the College is required to match certain federal assistance, as defined by the grant agreements, no such matching has been included as expenditures in the schedule. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. To maintain institutional eligibility to participate in the Department of Education’s Title IV financial aid programs, the College is required to comply with 34 CFR 600.7(a)1 which limits the number of correspondence courses, the number of students enrolled in correspondence courses, the number of incarcerated students enrolled and the number of students enrolled without a high school diploma or recognized equivalent. As part of the audit procedures, compliance with these limitations was tested. No non-compliance with the requirements was noted.

Finding Details

Finding 2024-001
Ineligible Disbursements Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Award Identification #: 2023-2024 Award Year Condition: Students were not appropriately awarded federal direct loans based on need analysis or year of enrollment. Criteria: 34 CFR 685.203 Questioned Costs: $3,000 Context: Out of 37 students tested, 3 were over awarded loans. One student was not awarded aid appropriately based on need analysis; this was corrected by reallocating $2,069 from subsidized to unsubsidized loans. The other two students were incorrectly awarded loans based on their year of enrollment. The first resulted in an over award of $2,000 in unsubsidized loans, and the second was over awarded $1,000 in subsidized loans. Both of these students were corrected during the audit. Because of the percentage of errors in our sample, this is classified as significant. Cause: This was an oversight by the College. Effect: Students received subsidized and unsubsidized federal aid for which they were not eligible. Identification as repeat finding, if applicable: Not applicable. Recommendation: We recommend that the College implement a review of aid eligibility to periodically check for over awards. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, and 84.007 Federal Award Identification #: 2023-2024 Award Year Condition: Return calculations were not done correctly consistently, particularly in the Fall 2023 semester. Criteria: 34 CFR 668.22 Questioned Costs: $494 Context: Out of 5 withdrawn students, 3 students who withdrew during the audit period tested had incorrect R2T4 calculations. All initial calculations and returns had been performed timely. The system calendar set up for the Fall 2023 semester was done incorrectly leading to the three incorrect calculations. Additionally, two students did not have Federal Supplemental Educational Opportunity Grant (FSEOG) included in the R2T4 calculation, which resulted in total under returns of $438 of Pell and $55 of FSEOG. The third student was only affected by the calendar setup and had an over return of Subsidized Loan in the amount of $22. A full file review was conducted by the College and all students were corrected. Cause: The system calendar setup for the Fall 2023 term was not done correctly, and the exclusion of FSEOG in the R2T4s was an oversight by the College. Effect: Returns of Title IV funds were not performed accurately. Identification as repeat finding, if applicable: Not applicable Recommendation: We recommend an individual with appropriate return calculation knowledge review each system set up to ensure the system is functioning as intended, as well as review R2T4 calculations and returns to ensure accuracy and achieve compliance. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, and 84.007 Federal Award Identification #: 2023-2024 Award Year Condition: Return calculations were not done correctly consistently, particularly in the Fall 2023 semester. Criteria: 34 CFR 668.22 Questioned Costs: $494 Context: Out of 5 withdrawn students, 3 students who withdrew during the audit period tested had incorrect R2T4 calculations. All initial calculations and returns had been performed timely. The system calendar set up for the Fall 2023 semester was done incorrectly leading to the three incorrect calculations. Additionally, two students did not have Federal Supplemental Educational Opportunity Grant (FSEOG) included in the R2T4 calculation, which resulted in total under returns of $438 of Pell and $55 of FSEOG. The third student was only affected by the calendar setup and had an over return of Subsidized Loan in the amount of $22. A full file review was conducted by the College and all students were corrected. Cause: The system calendar setup for the Fall 2023 term was not done correctly, and the exclusion of FSEOG in the R2T4s was an oversight by the College. Effect: Returns of Title IV funds were not performed accurately. Identification as repeat finding, if applicable: Not applicable Recommendation: We recommend an individual with appropriate return calculation knowledge review each system set up to ensure the system is functioning as intended, as well as review R2T4 calculations and returns to ensure accuracy and achieve compliance. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, and 84.007 Federal Award Identification #: 2023-2024 Award Year Condition: Return calculations were not done correctly consistently, particularly in the Fall 2023 semester. Criteria: 34 CFR 668.22 Questioned Costs: $494 Context: Out of 5 withdrawn students, 3 students who withdrew during the audit period tested had incorrect R2T4 calculations. All initial calculations and returns had been performed timely. The system calendar set up for the Fall 2023 semester was done incorrectly leading to the three incorrect calculations. Additionally, two students did not have Federal Supplemental Educational Opportunity Grant (FSEOG) included in the R2T4 calculation, which resulted in total under returns of $438 of Pell and $55 of FSEOG. The third student was only affected by the calendar setup and had an over return of Subsidized Loan in the amount of $22. A full file review was conducted by the College and all students were corrected. Cause: The system calendar setup for the Fall 2023 term was not done correctly, and the exclusion of FSEOG in the R2T4s was an oversight by the College. Effect: Returns of Title IV funds were not performed accurately. Identification as repeat finding, if applicable: Not applicable Recommendation: We recommend an individual with appropriate return calculation knowledge review each system set up to ensure the system is functioning as intended, as well as review R2T4 calculations and returns to ensure accuracy and achieve compliance. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-001
Ineligible Disbursements Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Award Identification #: 2023-2024 Award Year Condition: Students were not appropriately awarded federal direct loans based on need analysis or year of enrollment. Criteria: 34 CFR 685.203 Questioned Costs: $3,000 Context: Out of 37 students tested, 3 were over awarded loans. One student was not awarded aid appropriately based on need analysis; this was corrected by reallocating $2,069 from subsidized to unsubsidized loans. The other two students were incorrectly awarded loans based on their year of enrollment. The first resulted in an over award of $2,000 in unsubsidized loans, and the second was over awarded $1,000 in subsidized loans. Both of these students were corrected during the audit. Because of the percentage of errors in our sample, this is classified as significant. Cause: This was an oversight by the College. Effect: Students received subsidized and unsubsidized federal aid for which they were not eligible. Identification as repeat finding, if applicable: Not applicable. Recommendation: We recommend that the College implement a review of aid eligibility to periodically check for over awards. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, and 84.007 Federal Award Identification #: 2023-2024 Award Year Condition: Return calculations were not done correctly consistently, particularly in the Fall 2023 semester. Criteria: 34 CFR 668.22 Questioned Costs: $494 Context: Out of 5 withdrawn students, 3 students who withdrew during the audit period tested had incorrect R2T4 calculations. All initial calculations and returns had been performed timely. The system calendar set up for the Fall 2023 semester was done incorrectly leading to the three incorrect calculations. Additionally, two students did not have Federal Supplemental Educational Opportunity Grant (FSEOG) included in the R2T4 calculation, which resulted in total under returns of $438 of Pell and $55 of FSEOG. The third student was only affected by the calendar setup and had an over return of Subsidized Loan in the amount of $22. A full file review was conducted by the College and all students were corrected. Cause: The system calendar setup for the Fall 2023 term was not done correctly, and the exclusion of FSEOG in the R2T4s was an oversight by the College. Effect: Returns of Title IV funds were not performed accurately. Identification as repeat finding, if applicable: Not applicable Recommendation: We recommend an individual with appropriate return calculation knowledge review each system set up to ensure the system is functioning as intended, as well as review R2T4 calculations and returns to ensure accuracy and achieve compliance. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, and 84.007 Federal Award Identification #: 2023-2024 Award Year Condition: Return calculations were not done correctly consistently, particularly in the Fall 2023 semester. Criteria: 34 CFR 668.22 Questioned Costs: $494 Context: Out of 5 withdrawn students, 3 students who withdrew during the audit period tested had incorrect R2T4 calculations. All initial calculations and returns had been performed timely. The system calendar set up for the Fall 2023 semester was done incorrectly leading to the three incorrect calculations. Additionally, two students did not have Federal Supplemental Educational Opportunity Grant (FSEOG) included in the R2T4 calculation, which resulted in total under returns of $438 of Pell and $55 of FSEOG. The third student was only affected by the calendar setup and had an over return of Subsidized Loan in the amount of $22. A full file review was conducted by the College and all students were corrected. Cause: The system calendar setup for the Fall 2023 term was not done correctly, and the exclusion of FSEOG in the R2T4s was an oversight by the College. Effect: Returns of Title IV funds were not performed accurately. Identification as repeat finding, if applicable: Not applicable Recommendation: We recommend an individual with appropriate return calculation knowledge review each system set up to ensure the system is functioning as intended, as well as review R2T4 calculations and returns to ensure accuracy and achieve compliance. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.
Finding 2024-002
Inaccurate Return of Title IV Funds (R2T4) DEPARTMENT OF EDUCATION ALN #: 84.268, 84.063, and 84.007 Federal Award Identification #: 2023-2024 Award Year Condition: Return calculations were not done correctly consistently, particularly in the Fall 2023 semester. Criteria: 34 CFR 668.22 Questioned Costs: $494 Context: Out of 5 withdrawn students, 3 students who withdrew during the audit period tested had incorrect R2T4 calculations. All initial calculations and returns had been performed timely. The system calendar set up for the Fall 2023 semester was done incorrectly leading to the three incorrect calculations. Additionally, two students did not have Federal Supplemental Educational Opportunity Grant (FSEOG) included in the R2T4 calculation, which resulted in total under returns of $438 of Pell and $55 of FSEOG. The third student was only affected by the calendar setup and had an over return of Subsidized Loan in the amount of $22. A full file review was conducted by the College and all students were corrected. Cause: The system calendar setup for the Fall 2023 term was not done correctly, and the exclusion of FSEOG in the R2T4s was an oversight by the College. Effect: Returns of Title IV funds were not performed accurately. Identification as repeat finding, if applicable: Not applicable Recommendation: We recommend an individual with appropriate return calculation knowledge review each system set up to ensure the system is functioning as intended, as well as review R2T4 calculations and returns to ensure accuracy and achieve compliance. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.