FAC Explorer

Audit 33995

FY End
2022-05-31
Total Expended
$36.35M
Findings
4
Programs
7
Organization: Florida Southern College (FL)
Year: 2022 Accepted: 2022-11-15
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
34737 2022-001 Significant Deficiency - N
34738 2022-001 Significant Deficiency - N
611179 2022-001 Significant Deficiency - N
611180 2022-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $25.51M Yes 1
84.063 Federal Pell Grant Program $3.67M Yes 1
84.425E Cares Heerf Grant $3.15M Yes 0
84.425F Cares Heerf Grant $3.11M Yes 0
84.038 Federal Perkins Loans Outstanding $396,031 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $323,960 Yes 0
84.033 Federal Work-Study Program $186,804 Yes 0

Contacts

Name Title Type
VAPJFN3BBY84 V. Terry Dennis Auditee
8636804111 Don Loberg Auditor
No contacts on file

Notes to SEFA

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state award activity of Florida Southern College and Subsidiary and is presented on the accrual basis of accounting. The information in thisschedule 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); and Chapter 10.650, Rules of the Auditor General, therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.There were no non-cash awards in the current year.There were no sub-recipients of federal awards and state financial assistance in the current year.The College has elected not to use the 10% de minimis indirect cost rate for allocation. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. FEDERAL PERKINS LOANS OUTSTANDING (84.038) - Balances outstanding at the end of the audit period were $396,031. The College also participates in the Federal Direct Loan Program, including FederalStafford Loans (Stafford) and Federal PLUS Loans (PLUS). The dollar amounts are listed in the schedule of federal awards although the College is not the recipient of the funds. Such programs are considered a component of the student financial assistance cluster. Loans processed by the College under this Loan Program were the following for the year ended May 31, 2022: (Please see table in Note 2 of SEFA)

Finding Details

Finding 2022-001
2022 ? 001 Return to Title IV Federal agency: Department of Education Federal program: Title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 ? Federal Pell Grant Program, 84.268 ? Federal Direct Student Loans Award Period: June 1, 2021, to May 31, 2022 Type of Finding: Other Matters Finding related to Compliance within Uniform Guidance and Significant Deficiency in Internal Control Over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.21(b) states that the institution must return funds disbursed to students who did not begin attendance as soon as possible, but no later than 30 days after the date that the institution becomes aware that the student will not or has not begun attendance. Condition: During our testing for Return to Title IV, we noted 1 instance out of 20 students tested, where the College did not determine the student's withdrawal timely. Questioned costs: None Context: Out of a statistically valid sample of 20 students selected for testing for the requirement noted above, we noted 1 exception as described above. Cause: The College did not have a system in place to identify when students did not return for spring classes after attending the fall semester. Effect: The College did not return the federal funds timely Repeat Finding: No. Recommendation: We recommend that the College review and implement procedures to ensure that withdrawals are properly communicated to all departments and processed timely. Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the audit finding. See Corrective Action Plan prepared by the College.
Finding 2022-001
2022 ? 001 Return to Title IV Federal agency: Department of Education Federal program: Title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 ? Federal Pell Grant Program, 84.268 ? Federal Direct Student Loans Award Period: June 1, 2021, to May 31, 2022 Type of Finding: Other Matters Finding related to Compliance within Uniform Guidance and Significant Deficiency in Internal Control Over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.21(b) states that the institution must return funds disbursed to students who did not begin attendance as soon as possible, but no later than 30 days after the date that the institution becomes aware that the student will not or has not begun attendance. Condition: During our testing for Return to Title IV, we noted 1 instance out of 20 students tested, where the College did not determine the student's withdrawal timely. Questioned costs: None Context: Out of a statistically valid sample of 20 students selected for testing for the requirement noted above, we noted 1 exception as described above. Cause: The College did not have a system in place to identify when students did not return for spring classes after attending the fall semester. Effect: The College did not return the federal funds timely Repeat Finding: No. Recommendation: We recommend that the College review and implement procedures to ensure that withdrawals are properly communicated to all departments and processed timely. Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the audit finding. See Corrective Action Plan prepared by the College.
Finding 2022-001
2022 ? 001 Return to Title IV Federal agency: Department of Education Federal program: Title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 ? Federal Pell Grant Program, 84.268 ? Federal Direct Student Loans Award Period: June 1, 2021, to May 31, 2022 Type of Finding: Other Matters Finding related to Compliance within Uniform Guidance and Significant Deficiency in Internal Control Over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.21(b) states that the institution must return funds disbursed to students who did not begin attendance as soon as possible, but no later than 30 days after the date that the institution becomes aware that the student will not or has not begun attendance. Condition: During our testing for Return to Title IV, we noted 1 instance out of 20 students tested, where the College did not determine the student's withdrawal timely. Questioned costs: None Context: Out of a statistically valid sample of 20 students selected for testing for the requirement noted above, we noted 1 exception as described above. Cause: The College did not have a system in place to identify when students did not return for spring classes after attending the fall semester. Effect: The College did not return the federal funds timely Repeat Finding: No. Recommendation: We recommend that the College review and implement procedures to ensure that withdrawals are properly communicated to all departments and processed timely. Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the audit finding. See Corrective Action Plan prepared by the College.
Finding 2022-001
2022 ? 001 Return to Title IV Federal agency: Department of Education Federal program: Title: Student Financial Assistance Cluster Assistance Listing Number: 84.063 ? Federal Pell Grant Program, 84.268 ? Federal Direct Student Loans Award Period: June 1, 2021, to May 31, 2022 Type of Finding: Other Matters Finding related to Compliance within Uniform Guidance and Significant Deficiency in Internal Control Over Compliance Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 668.21(b) states that the institution must return funds disbursed to students who did not begin attendance as soon as possible, but no later than 30 days after the date that the institution becomes aware that the student will not or has not begun attendance. Condition: During our testing for Return to Title IV, we noted 1 instance out of 20 students tested, where the College did not determine the student's withdrawal timely. Questioned costs: None Context: Out of a statistically valid sample of 20 students selected for testing for the requirement noted above, we noted 1 exception as described above. Cause: The College did not have a system in place to identify when students did not return for spring classes after attending the fall semester. Effect: The College did not return the federal funds timely Repeat Finding: No. Recommendation: We recommend that the College review and implement procedures to ensure that withdrawals are properly communicated to all departments and processed timely. Views of Responsible Officials and Planned Corrective Actions: There is no disagreement with the audit finding. See Corrective Action Plan prepared by the College.