FAC Explorer

Audit 348448

FY End
2024-06-30
Total Expended
$35.35M
Findings
8
Programs
16
Organization: Rider University (NJ)
Year: 2024 Accepted: 2025-03-26
Auditor: Cliftonlarsonallen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
537241 2024-001 Significant Deficiency - E
537242 2024-001 Significant Deficiency - E
537243 2024-002 Significant Deficiency - E
537244 2024-003 Significant Deficiency - E
1113683 2024-001 Significant Deficiency - E
1113684 2024-001 Significant Deficiency - E
1113685 2024-002 Significant Deficiency - E
1113686 2024-003 Significant Deficiency - E

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $25.83M Yes 1
84.063 Federal Pell Grant Program $6.44M Yes 2
84.038 Federal Perkins Loan Program $1.04M Yes 0
84.033 Federal Work-Study Program $784,497 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $394,941 Yes 1
84.042 Trio Student Support Services $359,481 - 0
47.074 Biological Sciences $142,365 - 0
84.217 Trio McNair Post-Baccalaureate Achievement $118,335 - 0
84.425 Education Stabilization Fund $112,524 - 0
47.076 Stem Education (formerly Education and Human Resources) $80,821 - 0
47.070 Computer and Information Science and Engineering $29,023 - 0
47.050 Geosciences $7,814 - 0
94.005 Learn and Serve America_higher Education $4,378 - 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $3,772 Yes 0
81.049 Office of Science Financial Assistance Program $755 - 0
45.024 Promotion of the Arts Grants to Organizations and Individuals $700 - 0

Contacts

Name Title Type
N4KREMF5G8R8 James P. Hartman Auditee
6098965016 Sara Doyle Auditor
No contacts on file

Notes to SEFA

Title: SUBRECIPIENTS Accounting Policies: The accompanying schedules of expenditures of federal and state of New Jersey awards include the federal and state of New Jersey award activity of Rider University (the University) and are presented on the accrual basis of accounting. The information in these schedules 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 New Jersey Office of Management and Budget Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The University did not pass any State of New Jersey awards through to subrecipients during the year ended June 30, 2024.
Title: FEDERAL PERKINS LOAN PROGRAM Accounting Policies: The accompanying schedules of expenditures of federal and state of New Jersey awards include the federal and state of New Jersey award activity of Rider University (the University) and are presented on the accrual basis of accounting. The information in these schedules 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 New Jersey Office of Management and Budget Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The balance of loans outstanding under the Federal Perkins Loan Program as of June 30, 2024 was $771,877.
Title: FEDERAL DIRECT STUDENT LOAN PROGRAM Accounting Policies: The accompanying schedules of expenditures of federal and state of New Jersey awards include the federal and state of New Jersey award activity of Rider University (the University) and are presented on the accrual basis of accounting. The information in these schedules 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 New Jersey Office of Management and Budget Circular 15-08, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid. Therefore, some amounts presented in these schedules may differ from amounts presented in, or used in the preparation of, the financial statements. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Student Loan Program, and, accordingly, these loans are not included in the University’s financial statements. It is not practical to determine the balance of loans outstanding to students of the University under this program as of June 30, 2024. The University disbursed the following amounts of new loans under the Federal Direct Loan Program for the year ended June 30, 2024: Federal Direct Subsidized Loans -- $6,008,852 Federal Direct Unsubsidized Loans -- 11,590,860 PLUS Loans -- 8,228,245 Total -- $25,827,957

Finding Details

Finding 2024-001
Federal Agency: U.S. Department of Education Federal Program Name: Federal Pell Grant Program, Federal Supplemental Education Opportunity Grants Assistance Listing Number: 84.063, 84.007 Federal Award Identification Number and Year: P063P191818; P063P231818; P063P241818; P063Q221818; P063Q231818; P007A222600; P007A242600 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: Per the Code of Federal Regulations, 34 CFR 673.5, students may not be awarded need based aid in excess of their calculated need. In addition, 34 CFR 685.203(j) states that in no case may a loan amount exceed the student’s estimated cost of attendance for the period of enrollment for which the loan is intended less the student’s estimated financial assistance for that period and in the case of Direct Subsidized Loans, the borrower’s expected family contribution for that period. Condition: One out of forty students tested was awarded need-based Title IV aid greater than their estimated financial need. Questioned costs: $1,400 Context: During our testing, we noted that one student was awarded and disbursed $3,595 in need-based Title IV aid when they only had calculated financial need of $2,195. Cause: The University did not adjust need-based Title IV aid once financial need was met. Effect: Student was awarded need-based aid in excess of calculated need. Repeat finding: No. Recommendation: We recommend the University implement policies to review all student award packages at the start of the academic year or time of revision to ensure no over awards exist. In addition, we recommend the University implement procedures for adjusting aid when an outside scholarship is received by the student. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
Federal Agency: U.S. Department of Education Federal Program Name: Federal Pell Grant Program, Federal Supplemental Education Opportunity Grants Assistance Listing Number: 84.063, 84.007 Federal Award Identification Number and Year: P063P191818; P063P231818; P063P241818; P063Q221818; P063Q231818; P007A222600; P007A242600 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: Per the Code of Federal Regulations, 34 CFR 673.5, students may not be awarded need based aid in excess of their calculated need. In addition, 34 CFR 685.203(j) states that in no case may a loan amount exceed the student’s estimated cost of attendance for the period of enrollment for which the loan is intended less the student’s estimated financial assistance for that period and in the case of Direct Subsidized Loans, the borrower’s expected family contribution for that period. Condition: One out of forty students tested was awarded need-based Title IV aid greater than their estimated financial need. Questioned costs: $1,400 Context: During our testing, we noted that one student was awarded and disbursed $3,595 in need-based Title IV aid when they only had calculated financial need of $2,195. Cause: The University did not adjust need-based Title IV aid once financial need was met. Effect: Student was awarded need-based aid in excess of calculated need. Repeat finding: No. Recommendation: We recommend the University implement policies to review all student award packages at the start of the academic year or time of revision to ensure no over awards exist. In addition, we recommend the University implement procedures for adjusting aid when an outside scholarship is received by the student. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-002
Federal Agency: U.S. Department of Education Federal Program Name: Federal Pell Grant Program Assistance Listing Number: 84.063 Federal Award Identification Number and Year: P063P191818; P063P231818; P063P241818; P063Q221818; P063Q231818 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 690.62 states the Pell grant for an academic year is based upon the payment and disbursement schedules published by the Secretary for each award year. The payment schedules take into account the cost of attendance, the student’s Estimated Family Contribution (EFC) and the enrollment status of the student. Condition: One out of a sample of forty students was under-awarded Pell grant funds. Questioned costs: $501 Context: During our testing, it was noted one student was under-awarded Pell due to the University using the incorrect EFC in the calculation. Cause: The University calculated the student’s Pell award with an incorrect EFC. Effect: The student was under-awarded Pell funds. Repeat finding: No. Recommendation: We recommend that a review is implemented to ensure calculations of Pell awards are using the correct EFC. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-003
Federal Agency: U.S. Department of Education Federal Program Name: Federal Direct Student Loans Assistance Listing Number: 84.268 Federal Award Identification Number and Year: P268K231818; P268K241818; P268K251818 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.203(a) outline the maximum subsidized loan amounts for students based on their dependency status, year of education, and other factors. Condition: One out of forty students tested was under-awarded Subsidized Direct loans. Questioned costs: $1,479 Context: During our testing, we noted on student’s Subsidized Direct loan awarded and disbursed was less than the maximum amount they were eligible to receive. Cause: The University did not re-evaluate the student's account for additional loan eligibility after an adjustment to other aid was made. Effect: The student did not receive the maximum amount of eligible aid. Repeat finding: No. Recommendation: We recommend the University evaluate its procedures around packaging and awarding students to ensure loan eligibility is reassessed prior to disbursement. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
Federal Agency: U.S. Department of Education Federal Program Name: Federal Pell Grant Program, Federal Supplemental Education Opportunity Grants Assistance Listing Number: 84.063, 84.007 Federal Award Identification Number and Year: P063P191818; P063P231818; P063P241818; P063Q221818; P063Q231818; P007A222600; P007A242600 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: Per the Code of Federal Regulations, 34 CFR 673.5, students may not be awarded need based aid in excess of their calculated need. In addition, 34 CFR 685.203(j) states that in no case may a loan amount exceed the student’s estimated cost of attendance for the period of enrollment for which the loan is intended less the student’s estimated financial assistance for that period and in the case of Direct Subsidized Loans, the borrower’s expected family contribution for that period. Condition: One out of forty students tested was awarded need-based Title IV aid greater than their estimated financial need. Questioned costs: $1,400 Context: During our testing, we noted that one student was awarded and disbursed $3,595 in need-based Title IV aid when they only had calculated financial need of $2,195. Cause: The University did not adjust need-based Title IV aid once financial need was met. Effect: Student was awarded need-based aid in excess of calculated need. Repeat finding: No. Recommendation: We recommend the University implement policies to review all student award packages at the start of the academic year or time of revision to ensure no over awards exist. In addition, we recommend the University implement procedures for adjusting aid when an outside scholarship is received by the student. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-001
Federal Agency: U.S. Department of Education Federal Program Name: Federal Pell Grant Program, Federal Supplemental Education Opportunity Grants Assistance Listing Number: 84.063, 84.007 Federal Award Identification Number and Year: P063P191818; P063P231818; P063P241818; P063Q221818; P063Q231818; P007A222600; P007A242600 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: Per the Code of Federal Regulations, 34 CFR 673.5, students may not be awarded need based aid in excess of their calculated need. In addition, 34 CFR 685.203(j) states that in no case may a loan amount exceed the student’s estimated cost of attendance for the period of enrollment for which the loan is intended less the student’s estimated financial assistance for that period and in the case of Direct Subsidized Loans, the borrower’s expected family contribution for that period. Condition: One out of forty students tested was awarded need-based Title IV aid greater than their estimated financial need. Questioned costs: $1,400 Context: During our testing, we noted that one student was awarded and disbursed $3,595 in need-based Title IV aid when they only had calculated financial need of $2,195. Cause: The University did not adjust need-based Title IV aid once financial need was met. Effect: Student was awarded need-based aid in excess of calculated need. Repeat finding: No. Recommendation: We recommend the University implement policies to review all student award packages at the start of the academic year or time of revision to ensure no over awards exist. In addition, we recommend the University implement procedures for adjusting aid when an outside scholarship is received by the student. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-002
Federal Agency: U.S. Department of Education Federal Program Name: Federal Pell Grant Program Assistance Listing Number: 84.063 Federal Award Identification Number and Year: P063P191818; P063P231818; P063P241818; P063Q221818; P063Q231818 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 690.62 states the Pell grant for an academic year is based upon the payment and disbursement schedules published by the Secretary for each award year. The payment schedules take into account the cost of attendance, the student’s Estimated Family Contribution (EFC) and the enrollment status of the student. Condition: One out of a sample of forty students was under-awarded Pell grant funds. Questioned costs: $501 Context: During our testing, it was noted one student was under-awarded Pell due to the University using the incorrect EFC in the calculation. Cause: The University calculated the student’s Pell award with an incorrect EFC. Effect: The student was under-awarded Pell funds. Repeat finding: No. Recommendation: We recommend that a review is implemented to ensure calculations of Pell awards are using the correct EFC. Views of responsible officials: There is no disagreement with the audit finding.
Finding 2024-003
Federal Agency: U.S. Department of Education Federal Program Name: Federal Direct Student Loans Assistance Listing Number: 84.268 Federal Award Identification Number and Year: P268K231818; P268K241818; P268K251818 - 2024 Award Period: 7/1/2023 – 6/30/2024 Type of Finding: Significant Deficiency in Internal Control Over Compliance, Other Matters Criteria or specific requirement: The Code of Federal Regulations, 34 CFR 685.203(a) outline the maximum subsidized loan amounts for students based on their dependency status, year of education, and other factors. Condition: One out of forty students tested was under-awarded Subsidized Direct loans. Questioned costs: $1,479 Context: During our testing, we noted on student’s Subsidized Direct loan awarded and disbursed was less than the maximum amount they were eligible to receive. Cause: The University did not re-evaluate the student's account for additional loan eligibility after an adjustment to other aid was made. Effect: The student did not receive the maximum amount of eligible aid. Repeat finding: No. Recommendation: We recommend the University evaluate its procedures around packaging and awarding students to ensure loan eligibility is reassessed prior to disbursement. Views of responsible officials: There is no disagreement with the audit finding.