FAC Explorer

Audit 344154

FY End
2024-09-30
Total Expended
$24.99M
Findings
6
Programs
14
Organization: University of Montevallo (AL)
Year: 2024 Accepted: 2025-02-27
Auditor: Warren Averett

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
524730 2024-001 - - E
524731 2024-001 - - E
524732 2024-001 - - E
1101172 2024-001 - - E
1101173 2024-001 - - E
1101174 2024-001 - - E

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $12.33M - 0
84.063 Federal Pell Grant Program $5.59M - 0
84.334 Gaining Early Awareness and Readiness for Undergraduate Programs $4.60M Yes 0
84.047 Trio Upward Bound $844,106 Yes 1
84.042 Trio Student Support Services $341,838 Yes 1
84.217 Trio McNair Post-Baccalaureate Achievement $307,642 Yes 1
84.007 Federal Supplemental Educational Opportunity Grants $145,277 - 0
84.033 Federal Work-Study Program $145,253 - 0
10.855 Distance Learning and Telemedicine Loans and Grants $141,184 - 0
84.425 Education Stabilization Fund $64,357 - 0
93.658 Foster Care Title IV-E $60,045 - 0
93.859 Biomedical Research and Research Training $30,520 - 0
10.558 Child and Adult Care Food Program $13,758 - 0
84.038 Federal Perkins Loan Program_federal Capital Contributions $-13,751 - 0

Contacts

Name Title Type
EK1MGM1G5M25 Susan Hayes Auditee
2056656011 Jennifer Williams Auditor
No contacts on file

Notes to SEFA

Title: 1. Basis of Presentation Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the federal expenditures of the University of Montevallo (the University) under programs of the federal government for the year ended September 30, 2024. The 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. For the year ended September 30, 2024, the University did not elect to use the 10% De minimus Indirect Cost Rate permitted by Uniform Guidance. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the University and agencies and departments of the federal government and all sub awards to the University by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. For purposes of the Schedule, expenditures for federal awards programs are recognized on the accrual basis of accounting. Expenditures for federal student financial aid programs include Federal Pell program grants to students, Federal Perkins Loan Program, Federal Direct Student Loan Program, the federal share of students’ Federal Supplemental Educational Opportunity Grant (FSEOG) program grants, and Federal Work Study program earnings and administrative cost allowances, where applicable. De Minimis Rate Used: N Rate Explanation: Used rates provided in grant agreements The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the federal expenditures of the University of Montevallo (the University) under programs of the federal government for the year ended September 30, 2024. The 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. For the year ended September 30, 2024, the University did not elect to use the 10% De minimus Indirect Cost Rate permitted by Uniform Guidance. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the University and agencies and departments of the federal government and all sub awards to the University by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.
Title: 2. Summary of Significant Accounting Policies Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the federal expenditures of the University of Montevallo (the University) under programs of the federal government for the year ended September 30, 2024. The 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. For the year ended September 30, 2024, the University did not elect to use the 10% De minimus Indirect Cost Rate permitted by Uniform Guidance. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the University and agencies and departments of the federal government and all sub awards to the University by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. For purposes of the Schedule, expenditures for federal awards programs are recognized on the accrual basis of accounting. Expenditures for federal student financial aid programs include Federal Pell program grants to students, Federal Perkins Loan Program, Federal Direct Student Loan Program, the federal share of students’ Federal Supplemental Educational Opportunity Grant (FSEOG) program grants, and Federal Work Study program earnings and administrative cost allowances, where applicable. De Minimis Rate Used: N Rate Explanation: Used rates provided in grant agreements For purposes of the Schedule, expenditures for federal awards programs are recognized on the accrual basis of accounting. Expenditures for federal student financial aid programs include Federal Pell program grants to students, Federal Perkins Loan Program, Federal Direct Student Loan Program, the federal share of students’ Federal Supplemental Educational Opportunity Grant (FSEOG) program grants, and Federal Work Study program earnings and administrative cost allowances, where applicable.
Title: 3. Federal Student Loan Programs Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the federal expenditures of the University of Montevallo (the University) under programs of the federal government for the year ended September 30, 2024. The 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. For the year ended September 30, 2024, the University did not elect to use the 10% De minimus Indirect Cost Rate permitted by Uniform Guidance. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the University and agencies and departments of the federal government and all sub awards to the University by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. For purposes of the Schedule, expenditures for federal awards programs are recognized on the accrual basis of accounting. Expenditures for federal student financial aid programs include Federal Pell program grants to students, Federal Perkins Loan Program, Federal Direct Student Loan Program, the federal share of students’ Federal Supplemental Educational Opportunity Grant (FSEOG) program grants, and Federal Work Study program earnings and administrative cost allowances, where applicable. De Minimis Rate Used: N Rate Explanation: Used rates provided in grant agreements The Federal Perkins Loan Program is administered directly by the University and balances and transactions relating to the program are included in the University’s basic financial statements.The balances of loans outstanding at September 30, 2024, are summarized as follows: See Notes to the SEFA for chart/table. This loan program was closed by the Department of Education in a prior year; therefore, no new loans were disbursed, or administrative cost allowance claimed during the year ended September 30, 2024. Federal Direct Student Loan Program (84.268) The Federal Direct Student Loan Program (FDSLP) was established under the Higher Education Act of 1965, as amended in the Student Loan Reform Act of 1993. The FDSLP enables an eligible student or parent to obtain a loan to pay for the student’s cost of attendance directly through the University rather than through private lenders. The University began participation in the FDSLP on July 1, 2010. As a university qualified to originate loans, the University is responsible for handling the complete loan origination process, including funds management and promissory note functions. The University is not responsible for collection of these loans. The amount of disbursements under the FDSLP during the current year is presented in the Schedule. During the year ended September 30, 2024, the University advanced to students the following amount of new loans under the Federal Direct Loan Programs: See Notes to the SEFA for Chart/Table.
Title: 4. Matching Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) summarizes the federal expenditures of the University of Montevallo (the University) under programs of the federal government for the year ended September 30, 2024. The 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. For the year ended September 30, 2024, the University did not elect to use the 10% De minimus Indirect Cost Rate permitted by Uniform Guidance. For the purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between the University and agencies and departments of the federal government and all sub awards to the University by nonfederal organizations pursuant to federal grants, contracts, and similar agreements. For purposes of the Schedule, expenditures for federal awards programs are recognized on the accrual basis of accounting. Expenditures for federal student financial aid programs include Federal Pell program grants to students, Federal Perkins Loan Program, Federal Direct Student Loan Program, the federal share of students’ Federal Supplemental Educational Opportunity Grant (FSEOG) program grants, and Federal Work Study program earnings and administrative cost allowances, where applicable. De Minimis Rate Used: N Rate Explanation: Used rates provided in grant agreements Under the Federal Supplemental Education Opportunity Grant Program, the University matched $88,585 in funds awarded to students for the year ended September 30, 2024. This is in addition to the Federal share of expenditures included in the Schedule.

Finding Details

Finding 2024-001
2024-001 Eligibility, Non-compliance Federal Program: U.S Department of Education TRIO Cluster (84.047, 84.042, 84.217) Criteria: According to the TRIO program guidelines, all participants must have documented proof of eligibility. This includes evidence of low-income status, first-generation college student status, or other qualifying criteria as outlined in 34 CFR 642.3. Condition/Context: During our audit of the TRIO program, we noted that the client could not locate eligibility documentation for one participant out of sixty selected for testing. Cause: The missing documentation appears to be due to inadequate record-keeping practices. Effect: Without proper documentation, the client cannot demonstrate that all participants meet the eligibility requirements. Questioned Cost: None Recommendation: We recommend that the client implement a robust record-keeping system to ensure all eligibility documentation is properly maintained and easily accessible. This system should include regular audits of participant files to verify the presence of required documentation and training for staff on the importance of maintaining complete and accurate records. Views of Responsible Officials: Management agrees with the finding and the auditors’ recommendation. See Corrective Action Plan at the end of the report.
Finding 2024-001
2024-001 Eligibility, Non-compliance Federal Program: U.S Department of Education TRIO Cluster (84.047, 84.042, 84.217) Criteria: According to the TRIO program guidelines, all participants must have documented proof of eligibility. This includes evidence of low-income status, first-generation college student status, or other qualifying criteria as outlined in 34 CFR 642.3. Condition/Context: During our audit of the TRIO program, we noted that the client could not locate eligibility documentation for one participant out of sixty selected for testing. Cause: The missing documentation appears to be due to inadequate record-keeping practices. Effect: Without proper documentation, the client cannot demonstrate that all participants meet the eligibility requirements. Questioned Cost: None Recommendation: We recommend that the client implement a robust record-keeping system to ensure all eligibility documentation is properly maintained and easily accessible. This system should include regular audits of participant files to verify the presence of required documentation and training for staff on the importance of maintaining complete and accurate records. Views of Responsible Officials: Management agrees with the finding and the auditors’ recommendation. See Corrective Action Plan at the end of the report.
Finding 2024-001
2024-001 Eligibility, Non-compliance Federal Program: U.S Department of Education TRIO Cluster (84.047, 84.042, 84.217) Criteria: According to the TRIO program guidelines, all participants must have documented proof of eligibility. This includes evidence of low-income status, first-generation college student status, or other qualifying criteria as outlined in 34 CFR 642.3. Condition/Context: During our audit of the TRIO program, we noted that the client could not locate eligibility documentation for one participant out of sixty selected for testing. Cause: The missing documentation appears to be due to inadequate record-keeping practices. Effect: Without proper documentation, the client cannot demonstrate that all participants meet the eligibility requirements. Questioned Cost: None Recommendation: We recommend that the client implement a robust record-keeping system to ensure all eligibility documentation is properly maintained and easily accessible. This system should include regular audits of participant files to verify the presence of required documentation and training for staff on the importance of maintaining complete and accurate records. Views of Responsible Officials: Management agrees with the finding and the auditors’ recommendation. See Corrective Action Plan at the end of the report.
Finding 2024-001
2024-001 Eligibility, Non-compliance Federal Program: U.S Department of Education TRIO Cluster (84.047, 84.042, 84.217) Criteria: According to the TRIO program guidelines, all participants must have documented proof of eligibility. This includes evidence of low-income status, first-generation college student status, or other qualifying criteria as outlined in 34 CFR 642.3. Condition/Context: During our audit of the TRIO program, we noted that the client could not locate eligibility documentation for one participant out of sixty selected for testing. Cause: The missing documentation appears to be due to inadequate record-keeping practices. Effect: Without proper documentation, the client cannot demonstrate that all participants meet the eligibility requirements. Questioned Cost: None Recommendation: We recommend that the client implement a robust record-keeping system to ensure all eligibility documentation is properly maintained and easily accessible. This system should include regular audits of participant files to verify the presence of required documentation and training for staff on the importance of maintaining complete and accurate records. Views of Responsible Officials: Management agrees with the finding and the auditors’ recommendation. See Corrective Action Plan at the end of the report.
Finding 2024-001
2024-001 Eligibility, Non-compliance Federal Program: U.S Department of Education TRIO Cluster (84.047, 84.042, 84.217) Criteria: According to the TRIO program guidelines, all participants must have documented proof of eligibility. This includes evidence of low-income status, first-generation college student status, or other qualifying criteria as outlined in 34 CFR 642.3. Condition/Context: During our audit of the TRIO program, we noted that the client could not locate eligibility documentation for one participant out of sixty selected for testing. Cause: The missing documentation appears to be due to inadequate record-keeping practices. Effect: Without proper documentation, the client cannot demonstrate that all participants meet the eligibility requirements. Questioned Cost: None Recommendation: We recommend that the client implement a robust record-keeping system to ensure all eligibility documentation is properly maintained and easily accessible. This system should include regular audits of participant files to verify the presence of required documentation and training for staff on the importance of maintaining complete and accurate records. Views of Responsible Officials: Management agrees with the finding and the auditors’ recommendation. See Corrective Action Plan at the end of the report.
Finding 2024-001
2024-001 Eligibility, Non-compliance Federal Program: U.S Department of Education TRIO Cluster (84.047, 84.042, 84.217) Criteria: According to the TRIO program guidelines, all participants must have documented proof of eligibility. This includes evidence of low-income status, first-generation college student status, or other qualifying criteria as outlined in 34 CFR 642.3. Condition/Context: During our audit of the TRIO program, we noted that the client could not locate eligibility documentation for one participant out of sixty selected for testing. Cause: The missing documentation appears to be due to inadequate record-keeping practices. Effect: Without proper documentation, the client cannot demonstrate that all participants meet the eligibility requirements. Questioned Cost: None Recommendation: We recommend that the client implement a robust record-keeping system to ensure all eligibility documentation is properly maintained and easily accessible. This system should include regular audits of participant files to verify the presence of required documentation and training for staff on the importance of maintaining complete and accurate records. Views of Responsible Officials: Management agrees with the finding and the auditors’ recommendation. See Corrective Action Plan at the end of the report.