FAC Explorer

Audit 344071

FY End
2024-05-31
Total Expended
$27.52M
Findings
6
Programs
14
Organization: Bellarmine University (KY)
Year: 2024 Accepted: 2025-02-27
Auditor: Dean Dorton Allen Ford PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
524632 2024-001 - - N
524633 2024-001 - - N
524634 2024-001 - - N
1101074 2024-001 - - N
1101075 2024-001 - - N
1101076 2024-001 - - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $21.76M Yes 1
84.063 Federal Pell Grant Program $4.04M Yes 1
84.116 Fund for the Improvement of Postsecondary Education $411,776 - 0
84.033 Federal Work-Study Program $358,230 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $295,474 Yes 1
47.076 Stem Education (formerly Education and Human Resources) $156,281 - 0
84.425 Education Stabilization Fund $117,385 - 0
45.162 Promotion of the Humanities Teaching and Learning Resources and Curriculum Development $31,376 - 0
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $28,816 - 0
93.859 Biomedical Research and Research Training $19,639 - 0
10.225 Community Food Projects $8,242 - 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $5,658 Yes 0
94.021 Americorps Volunteer Generation Fund 94.021 $2,340 - 0
12.903 Gencyber Grants Program $-46 - 0

Contacts

Name Title Type
GQNNW1Q2G3D8 Denise Brown-Cornelius Auditee
5022728261 Megan Crane Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Kentucky Wesleyan College (the College) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bellarmine University (the University) for the year ended May 31, 2024 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Federal Student Loan Programs Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Kentucky Wesleyan College (the College) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Federal Perkins Loan Program is administered directly by the University and balances and transactions relating to this program are included in the University's financial statements. As of June 30, 2024, the University had loans outstanding totaling $72,139 under the Federal Perkins Loan Program. No new loans were awarded and disbursed for the year ended May 31, 2024. There were no allowable expenditures under the Federal Perkins Loan Program for the year ended May 31, 2024. The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Loan Program and, accordingly, these loans are not included in the financial statements of the University. It is not practical to determine the balance of loans outstanding to students and former students of the University under this program as of May 31, 2024. The current expenditures under the Federal Direct Loan Program of $21,763,843 are included in the accompanying schedule of expenditures of federal awards.
Title: Facilities and Administrative Cost Rate Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Kentucky Wesleyan College (the College) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Predetermined fixed facilities and administrative costs rates have been approved as follows: Period Covered From 6/1/2020 to 5/31/2024 Based on Financial Information for fiscal year 2022 Predetermined rate – on campus 27.70% Predetermined rate – off campus 15.10% These rates are applied to modified total direct costs (as defined by the agreement) for on-campus programs. The University does not utilize the 10% de Minimis indirect cost rate.

Finding Details

Finding 2024-001
Finding 2024-001 Federal Program: U.S. Department of Education: Student Financial Aid Cluster Federal Pell Grant, Assistance Listing 84.063 Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007 Federal Direct Loan Program, Assistance Listing 84.268 Criteria: The College must comply with 34 Section 668.22. Condition: During our testing of official withdrawals, we selected five samples and noted that for one of the samples, the return of funds calculation was improperly calculated due to the University using the incorrect withdrawal date. Cause: The University’s procedure to review return of funds calculation did not catch the error. Effect: The provisions of 34 CFR Section 668.22 were not followed and thus one student had an incorrect return of funds calculation. Questioned Costs: Known questioned costs total $1,779 in Title IV aid that should have been returned as a result of our testing of five official withdrawals. Finding 2024-001, continued Recommendation: We recommend that the University review and revise their policies and procedures related to the returns of fund calculation. Specifically, the University should implement a review process to verify calculations before finalizing returns. Views of Responsible Officials and Planned Corrective Actions: Bellarmine University agrees with the auditors’ finding and recommendations. The following corrective action will be taken: The University will return $1,779 in federal student financial aid to the United States Department of Education (USED) which represents the updated R2T4 accounting for the correct withdrawal dates in the Spring 2024 semester. There will be an additional review process that will include validation from financial and student accounts to verify calculations before finalizing returns of funds. Financial Aid will provide an additional R2T4 form that has date of determination and LDA. Financial Aid will review that all dates and calculations match after the R2T4 has been completed and before handing off to student accounts. Student accounts will then review to confirm all dates and amounts match before processing the return of funds. April Tretter, Director of Financial Aid, expected implementation date 2.26.25.
Finding 2024-001
Finding 2024-001 Federal Program: U.S. Department of Education: Student Financial Aid Cluster Federal Pell Grant, Assistance Listing 84.063 Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007 Federal Direct Loan Program, Assistance Listing 84.268 Criteria: The College must comply with 34 Section 668.22. Condition: During our testing of official withdrawals, we selected five samples and noted that for one of the samples, the return of funds calculation was improperly calculated due to the University using the incorrect withdrawal date. Cause: The University’s procedure to review return of funds calculation did not catch the error. Effect: The provisions of 34 CFR Section 668.22 were not followed and thus one student had an incorrect return of funds calculation. Questioned Costs: Known questioned costs total $1,779 in Title IV aid that should have been returned as a result of our testing of five official withdrawals. Finding 2024-001, continued Recommendation: We recommend that the University review and revise their policies and procedures related to the returns of fund calculation. Specifically, the University should implement a review process to verify calculations before finalizing returns. Views of Responsible Officials and Planned Corrective Actions: Bellarmine University agrees with the auditors’ finding and recommendations. The following corrective action will be taken: The University will return $1,779 in federal student financial aid to the United States Department of Education (USED) which represents the updated R2T4 accounting for the correct withdrawal dates in the Spring 2024 semester. There will be an additional review process that will include validation from financial and student accounts to verify calculations before finalizing returns of funds. Financial Aid will provide an additional R2T4 form that has date of determination and LDA. Financial Aid will review that all dates and calculations match after the R2T4 has been completed and before handing off to student accounts. Student accounts will then review to confirm all dates and amounts match before processing the return of funds. April Tretter, Director of Financial Aid, expected implementation date 2.26.25.
Finding 2024-001
Finding 2024-001 Federal Program: U.S. Department of Education: Student Financial Aid Cluster Federal Pell Grant, Assistance Listing 84.063 Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007 Federal Direct Loan Program, Assistance Listing 84.268 Criteria: The College must comply with 34 Section 668.22. Condition: During our testing of official withdrawals, we selected five samples and noted that for one of the samples, the return of funds calculation was improperly calculated due to the University using the incorrect withdrawal date. Cause: The University’s procedure to review return of funds calculation did not catch the error. Effect: The provisions of 34 CFR Section 668.22 were not followed and thus one student had an incorrect return of funds calculation. Questioned Costs: Known questioned costs total $1,779 in Title IV aid that should have been returned as a result of our testing of five official withdrawals. Finding 2024-001, continued Recommendation: We recommend that the University review and revise their policies and procedures related to the returns of fund calculation. Specifically, the University should implement a review process to verify calculations before finalizing returns. Views of Responsible Officials and Planned Corrective Actions: Bellarmine University agrees with the auditors’ finding and recommendations. The following corrective action will be taken: The University will return $1,779 in federal student financial aid to the United States Department of Education (USED) which represents the updated R2T4 accounting for the correct withdrawal dates in the Spring 2024 semester. There will be an additional review process that will include validation from financial and student accounts to verify calculations before finalizing returns of funds. Financial Aid will provide an additional R2T4 form that has date of determination and LDA. Financial Aid will review that all dates and calculations match after the R2T4 has been completed and before handing off to student accounts. Student accounts will then review to confirm all dates and amounts match before processing the return of funds. April Tretter, Director of Financial Aid, expected implementation date 2.26.25.
Finding 2024-001
Finding 2024-001 Federal Program: U.S. Department of Education: Student Financial Aid Cluster Federal Pell Grant, Assistance Listing 84.063 Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007 Federal Direct Loan Program, Assistance Listing 84.268 Criteria: The College must comply with 34 Section 668.22. Condition: During our testing of official withdrawals, we selected five samples and noted that for one of the samples, the return of funds calculation was improperly calculated due to the University using the incorrect withdrawal date. Cause: The University’s procedure to review return of funds calculation did not catch the error. Effect: The provisions of 34 CFR Section 668.22 were not followed and thus one student had an incorrect return of funds calculation. Questioned Costs: Known questioned costs total $1,779 in Title IV aid that should have been returned as a result of our testing of five official withdrawals. Finding 2024-001, continued Recommendation: We recommend that the University review and revise their policies and procedures related to the returns of fund calculation. Specifically, the University should implement a review process to verify calculations before finalizing returns. Views of Responsible Officials and Planned Corrective Actions: Bellarmine University agrees with the auditors’ finding and recommendations. The following corrective action will be taken: The University will return $1,779 in federal student financial aid to the United States Department of Education (USED) which represents the updated R2T4 accounting for the correct withdrawal dates in the Spring 2024 semester. There will be an additional review process that will include validation from financial and student accounts to verify calculations before finalizing returns of funds. Financial Aid will provide an additional R2T4 form that has date of determination and LDA. Financial Aid will review that all dates and calculations match after the R2T4 has been completed and before handing off to student accounts. Student accounts will then review to confirm all dates and amounts match before processing the return of funds. April Tretter, Director of Financial Aid, expected implementation date 2.26.25.
Finding 2024-001
Finding 2024-001 Federal Program: U.S. Department of Education: Student Financial Aid Cluster Federal Pell Grant, Assistance Listing 84.063 Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007 Federal Direct Loan Program, Assistance Listing 84.268 Criteria: The College must comply with 34 Section 668.22. Condition: During our testing of official withdrawals, we selected five samples and noted that for one of the samples, the return of funds calculation was improperly calculated due to the University using the incorrect withdrawal date. Cause: The University’s procedure to review return of funds calculation did not catch the error. Effect: The provisions of 34 CFR Section 668.22 were not followed and thus one student had an incorrect return of funds calculation. Questioned Costs: Known questioned costs total $1,779 in Title IV aid that should have been returned as a result of our testing of five official withdrawals. Finding 2024-001, continued Recommendation: We recommend that the University review and revise their policies and procedures related to the returns of fund calculation. Specifically, the University should implement a review process to verify calculations before finalizing returns. Views of Responsible Officials and Planned Corrective Actions: Bellarmine University agrees with the auditors’ finding and recommendations. The following corrective action will be taken: The University will return $1,779 in federal student financial aid to the United States Department of Education (USED) which represents the updated R2T4 accounting for the correct withdrawal dates in the Spring 2024 semester. There will be an additional review process that will include validation from financial and student accounts to verify calculations before finalizing returns of funds. Financial Aid will provide an additional R2T4 form that has date of determination and LDA. Financial Aid will review that all dates and calculations match after the R2T4 has been completed and before handing off to student accounts. Student accounts will then review to confirm all dates and amounts match before processing the return of funds. April Tretter, Director of Financial Aid, expected implementation date 2.26.25.
Finding 2024-001
Finding 2024-001 Federal Program: U.S. Department of Education: Student Financial Aid Cluster Federal Pell Grant, Assistance Listing 84.063 Federal Supplemental Education Opportunity Grant, Assistance Listing 84.007 Federal Direct Loan Program, Assistance Listing 84.268 Criteria: The College must comply with 34 Section 668.22. Condition: During our testing of official withdrawals, we selected five samples and noted that for one of the samples, the return of funds calculation was improperly calculated due to the University using the incorrect withdrawal date. Cause: The University’s procedure to review return of funds calculation did not catch the error. Effect: The provisions of 34 CFR Section 668.22 were not followed and thus one student had an incorrect return of funds calculation. Questioned Costs: Known questioned costs total $1,779 in Title IV aid that should have been returned as a result of our testing of five official withdrawals. Finding 2024-001, continued Recommendation: We recommend that the University review and revise their policies and procedures related to the returns of fund calculation. Specifically, the University should implement a review process to verify calculations before finalizing returns. Views of Responsible Officials and Planned Corrective Actions: Bellarmine University agrees with the auditors’ finding and recommendations. The following corrective action will be taken: The University will return $1,779 in federal student financial aid to the United States Department of Education (USED) which represents the updated R2T4 accounting for the correct withdrawal dates in the Spring 2024 semester. There will be an additional review process that will include validation from financial and student accounts to verify calculations before finalizing returns of funds. Financial Aid will provide an additional R2T4 form that has date of determination and LDA. Financial Aid will review that all dates and calculations match after the R2T4 has been completed and before handing off to student accounts. Student accounts will then review to confirm all dates and amounts match before processing the return of funds. April Tretter, Director of Financial Aid, expected implementation date 2.26.25.