FAC Explorer

Audit 343264

FY End
2024-06-30
Total Expended
$21.59M
Findings
8
Programs
7
Organization: Warren Wilson College (NC)
Year: 2024 Accepted: 2025-02-20
Auditor: Cherry Bekaert LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
524090 2024-001 - Yes N
524091 2024-001 - Yes N
524092 2024-001 - Yes N
524093 2024-001 - Yes N
1100532 2024-001 - Yes N
1100533 2024-001 - Yes N
1100534 2024-001 - Yes N
1100535 2024-001 - Yes N

Programs

ALN Program Spent Major Findings
10.766 Community Facilities Loans and Grants $14.74M - 0
84.268 Federal Direct Student Loans $3.45M Yes 1
84.033 Federal Work-Study Program $1.66M Yes 1
84.063 Federal Pell Grant Program $1.53M Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $117,586 Yes 1
47.074 Biological Sciences $47,753 - 0
84.425 Education Stabilization Fund $43,441 - 0

Contacts

Name Title Type
V697QSGLCLF6 Mary Davis Auditee
8287712060 Roselle Bonnoitt Auditor
No contacts on file

Notes to SEFA

Title: Note 1—Basis of presentation Accounting Policies: Expenditures reported 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. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of Warren Wilson College (the “College”) under programs of the federal government and the state of North Carolina for the year ended June 30, 2024. 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”) and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of the College, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the College.
Title: Note 4—Federal Direct Student Loans Accounting Policies: Expenditures reported 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. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Federal Direct Student Loans, amounting to $3,446,117, were made to students of the College during the year ended June 30, 2024. Parent Loans for Undergraduate Studies, amounting to $800,347, were made to parents of students of the College during the year ended June 30, 2024.
Title: Note 4—Community Facilities Loan Accounting Policies: Expenditures reported 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. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. In January 2016, the College borrowed $16,370,000 from the United States Department of Agriculture. On July 1, 2023, the outstanding balance of this loan was $14,738,734. During the year ended June 30, 2024, the College made principal payments totaling $262,384 on this loan, and the outstanding balance at June 30, 2024 is $14,476,350.
Title: Note 5—Waiver of Institutional Share Requirements Accounting Policies: Expenditures reported 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. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The College received a waiver of institutional-share requirements for the Federal Work-Study Program and the Federal Supplemental Educational Opportunity Grants from the United States Department of Education for the 2023-2024 award year.

Finding Details

Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.
Finding 2024-001
Finding No. 2024-001 Identification of the Federal Program: U.S. Department of Education – Student Financial Aid Cluster, Assistance Listing #84.007, 84.033, 84.063, 84.268 Compliance Requirement: Special Test and Provisions – Enrollment Reporting Criteria: The College is required to send changes in attendance levels, graduated, withdrew, dropped out, or enrolled changes to the National Student Loan Data System (“NSLDS”) within 60 days of the change. Condition: The College had not reported changes for withdrawn students to the NSLDS as required under the Uniform Grant Guidance for the year ended June 30, 2024. Cause: The status information reported in the College’s system, Jenzabar (withdrawal date), was incorrectly extracted for the submission to the National Student Clearinghouse and NSLDS, which created discrepancies between the status effective date. The College was unaware of this technical issue and did not have another monitoring mechanism in place that would have alerted it to this deficiency in the system reporting. Context: Of the nine students selected for test work, the College sent one change related to a withdrawn student to the NSLDS with an incorrect status effective date and updated the status after 60 days. Identification as a Repeat Finding: Finding No. 2024-001 is a repeat finding of Finding No. 2023-001. Effect: The College did not report withdraw changes to the NSLDS timely. Recommendation: The College should put in place a process to timely capture withdrawn student changes so that student status changes are reported to the NSLDS within the required timeframe. Management Response: The College concurs with this finding. Corrective Action Plan: See management’s corrective action plan which is attached.