FAC Explorer

Audit 349236

FY End
2024-06-30
Total Expended
$9.29M
Findings
4
Programs
21
Organization: Trustees of Amherst College (MA)
Year: 2024 Accepted: 2025-03-27
Auditor: Pricewaterhousecoopers LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
538217 2024-001 - - N
538218 2024-001 - - N
1114659 2024-001 - - N
1114660 2024-001 - - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $2.74M Yes 1
84.063 Federal Pell Grant Program $2.40M Yes 1
47.049 Mathematical and Physical Sciences $1.38M - 0
93.859 Biomedical Research and Research Training $813,104 - 0
84.007 Federal Supplemental Educational Opportunity Grants $346,813 Yes 0
84.033 Federal Work-Study Program $304,835 Yes 0
91.U00 Capital Arts Fund $243,764 - 0
47.050 Geosciences $215,628 - 0
47.076 Stem Education (formerly Education and Human Resources) $120,045 - 0
43.001 Science $91,904 - 0
84.038 Federal Perkins Loan Program_federal Capital Contributions $75,529 Yes 0
47.074 Biological Sciences $64,887 - 0
47.078 Polar Programs $52,295 - 0
45.301 Museums for America $41,994 - 0
93.847 Diabetes, Digestive, and Kidney Diseases Extramural Research $36,157 - 0
45.163 Promotion of the Humanities Professional Development $29,105 - 0
45.024 Promotion of the Arts Grants to Organizations and Individuals $26,912 - 0
47.070 Computer and Information Science and Engineering $19,617 - 0
93.865 Child Health and Human Development Extramural Research $10,497 - 0
45.149 Promotion of the Humanities Division of Preservation and Access $9,926 - 0
93.173 Research Related to Deafness and Communication Disorders $8,098 - 0

Contacts

Name Title Type
KDRLUT71AFM5 Stephen M. Nigro Auditee
4135428553 Carol Ruiz Auditor
No contacts on file

Notes to SEFA

Title: Summary of Significant Accounting Policies Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant and award transactions of The Trustees of Amherst College (the “Institution”) for the year ended June 30, 2024 recorded on the accrual basis. Because the Schedule presents only the federal activity of the Institution, it is not intended to and does not present the financial position, changes in net assets and cash flows of the Institution. The Trustees of Amherst College includes the activities of Amherst College (the “College”) and Folger Shakespeare Memorial Library (the “Library”), which are presented separately on the schedule. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Assistance Listing numbers and pass-through entity identification numbers are presented where available. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the Institution and agencies and departments of the federal government and all sub-awards to the Institution by non-federal organizations pursuant to federal grants, contracts and similar agreements. De Minimis Rate Used: N Rate Explanation: The Institution’s current Facilities and Administrative Costs Rate Agreement went into effect on May 6, 2021. For the effective period of July 1, 2020 through June 30, 2025, the predetermined rates are 54% for on-campus research at the College, 20% for off-campus research at the College, and 76.50% for the Library. The base used to determine the facilities and administrative cost rate for both the College and the Library is direct salaries and wages, including all fringe benefits except sabbatical leave. The Institution has elected not to use the 10% de minimis indirect cost rate allowed by the Uniform Guidance. Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant and award transactions of The Trustees of Amherst College (the “Institution”) for the year ended June 30, 2024 recorded on the accrual basis. Because the Schedule presents only the federal activity of the Institution, it is not intended to and does not present the financial position, changes in net assets and cash flows of the Institution. The Trustees of Amherst College includes the activities of Amherst College (the “College”) and Folger Shakespeare Memorial Library (the “Library”), which are presented separately on the schedule. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Assistance Listing numbers and pass-through entity identification numbers are presented where available. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the Institution and agencies and departments of the federal government and all sub-awards to the Institution by non-federal organizations pursuant to federal grants, contracts and similar agreements.
Title: Facilities and Administrative Cost Rate Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant and award transactions of The Trustees of Amherst College (the “Institution”) for the year ended June 30, 2024 recorded on the accrual basis. Because the Schedule presents only the federal activity of the Institution, it is not intended to and does not present the financial position, changes in net assets and cash flows of the Institution. The Trustees of Amherst College includes the activities of Amherst College (the “College”) and Folger Shakespeare Memorial Library (the “Library”), which are presented separately on the schedule. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Assistance Listing numbers and pass-through entity identification numbers are presented where available. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the Institution and agencies and departments of the federal government and all sub-awards to the Institution by non-federal organizations pursuant to federal grants, contracts and similar agreements. De Minimis Rate Used: N Rate Explanation: The Institution’s current Facilities and Administrative Costs Rate Agreement went into effect on May 6, 2021. For the effective period of July 1, 2020 through June 30, 2025, the predetermined rates are 54% for on-campus research at the College, 20% for off-campus research at the College, and 76.50% for the Library. The base used to determine the facilities and administrative cost rate for both the College and the Library is direct salaries and wages, including all fringe benefits except sabbatical leave. The Institution has elected not to use the 10% de minimis indirect cost rate allowed by the Uniform Guidance. The Institution’s current Facilities and Administrative Costs Rate Agreement went into effect on May 6, 2021. For the effective period of July 1, 2020 through June 30, 2025, the predetermined rates are 54% for on-campus research at the College, 20% for off-campus research at the College, and 76.50% for the Library. The base used to determine the facilities and administrative cost rate for both the College and the Library is direct salaries and wages, including all fringe benefits except sabbatical leave. The Institution has elected not to use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Title: Federal Student Loan Programs Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant and award transactions of The Trustees of Amherst College (the “Institution”) for the year ended June 30, 2024 recorded on the accrual basis. Because the Schedule presents only the federal activity of the Institution, it is not intended to and does not present the financial position, changes in net assets and cash flows of the Institution. The Trustees of Amherst College includes the activities of Amherst College (the “College”) and Folger Shakespeare Memorial Library (the “Library”), which are presented separately on the schedule. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Assistance Listing numbers and pass-through entity identification numbers are presented where available. For purposes of the Schedule, federal awards include all grants, contracts and similar agreements entered into directly between the Institution and agencies and departments of the federal government and all sub-awards to the Institution by non-federal organizations pursuant to federal grants, contracts and similar agreements. De Minimis Rate Used: N Rate Explanation: The Institution’s current Facilities and Administrative Costs Rate Agreement went into effect on May 6, 2021. For the effective period of July 1, 2020 through June 30, 2025, the predetermined rates are 54% for on-campus research at the College, 20% for off-campus research at the College, and 76.50% for the Library. The base used to determine the facilities and administrative cost rate for both the College and the Library is direct salaries and wages, including all fringe benefits except sabbatical leave. The Institution has elected not to use the 10% de minimis indirect cost rate allowed by the Uniform Guidance. The Federal Perkins Loan is administered directly by the Institution, and balances and transactions related to this program are included in the Institution’s consolidated and individual financial statements. The balance of loans outstanding under the Federal Perkins Loan (Assistance Listing Number 84.038) as of June 30, 2024 was $60,667. The Federal Perkins Loan line item within the Schedule includes the fiscal year beginning loan balance. The Institution is responsible for certain administrative duties only with respect to the Federal Direct Student Loans and, accordingly, these loans are not included in the Institution's consolidated or individual financial statements. It is not practical to determine the balance of loans outstanding under these programs at June 30, 2024.

Finding Details

Finding 2024-001
2024-001 Enrollment reporting Sponsoring Agency: Department of Education Cluster: Student Financial Assistance Award Names: Pell Grant Program and Federal Direct Student Loans Award Number: Not applicable Award Listing Title: Federal Pell Grant Program and Federal Direct Student Loans Assistance Listing Numbers: 84.063 and 84.268 Award Year: 2023-2024 Pass-through entity: Not applicable Criteria Institutions must review, update, and certify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP). There are two categories of enrollment information, "Campus Level" and "Program Level," both of which need to be reported accurately and have separate record types. (34 CFR 685.309) Additionally, when a Direct Loan was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, and the student ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or a student who is enrolled at the institution and who received a loan under Title IV has changed his or her permanent address, the institution must report the change in its next updated Enrollment Reporting Roster file (due within 60 days of the change). (34 CFR 685.309) Condition Through testing of 16 student enrollment status changes, we noted that 3 out of 16 student selections were not reported to NSLDS within 60 days of the effective change date. On average, they were reported 10 days late. Cause The Institution utilizes the National Student Clearinghouse (NSC) to report status changes. The Institution does not provide status changes to NSC until first of term reporting following the add/drop period. Once the Institution sends changes to NSC, there is a lag between NSLDS receiving the enrollment status change data. As such, more than 60 days had elapsed before either a withdrawn or graduation status was reported to NSLDS. Effect The effective administration of Title IV loans could be impacted when changes in students' status are not reported timely and accurately. The accuracy of enrollment information is important as the student's enrollment status determines eligibility for the in-school status, deferment, grace periods, and repayments, as well as the Government's payment of interest subsidies. Questioned Costs None identified. Recommendation We recommend that the lag in timing of submission of date to NSC and ultimate transmittal to NSLDS is taken into consideration when a student withdraws at Amherst to ensure timely reporting in the future. Management’s Views and Corrective Action Plan Management's response is included in "Management’s Views and Corrective Action Plan included at the end of this report after the summary schedule of status of prior audit findings.
Finding 2024-001
2024-001 Enrollment reporting Sponsoring Agency: Department of Education Cluster: Student Financial Assistance Award Names: Pell Grant Program and Federal Direct Student Loans Award Number: Not applicable Award Listing Title: Federal Pell Grant Program and Federal Direct Student Loans Assistance Listing Numbers: 84.063 and 84.268 Award Year: 2023-2024 Pass-through entity: Not applicable Criteria Institutions must review, update, and certify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP). There are two categories of enrollment information, "Campus Level" and "Program Level," both of which need to be reported accurately and have separate record types. (34 CFR 685.309) Additionally, when a Direct Loan was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, and the student ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or a student who is enrolled at the institution and who received a loan under Title IV has changed his or her permanent address, the institution must report the change in its next updated Enrollment Reporting Roster file (due within 60 days of the change). (34 CFR 685.309) Condition Through testing of 16 student enrollment status changes, we noted that 3 out of 16 student selections were not reported to NSLDS within 60 days of the effective change date. On average, they were reported 10 days late. Cause The Institution utilizes the National Student Clearinghouse (NSC) to report status changes. The Institution does not provide status changes to NSC until first of term reporting following the add/drop period. Once the Institution sends changes to NSC, there is a lag between NSLDS receiving the enrollment status change data. As such, more than 60 days had elapsed before either a withdrawn or graduation status was reported to NSLDS. Effect The effective administration of Title IV loans could be impacted when changes in students' status are not reported timely and accurately. The accuracy of enrollment information is important as the student's enrollment status determines eligibility for the in-school status, deferment, grace periods, and repayments, as well as the Government's payment of interest subsidies. Questioned Costs None identified. Recommendation We recommend that the lag in timing of submission of date to NSC and ultimate transmittal to NSLDS is taken into consideration when a student withdraws at Amherst to ensure timely reporting in the future. Management’s Views and Corrective Action Plan Management's response is included in "Management’s Views and Corrective Action Plan included at the end of this report after the summary schedule of status of prior audit findings.
Finding 2024-001
2024-001 Enrollment reporting Sponsoring Agency: Department of Education Cluster: Student Financial Assistance Award Names: Pell Grant Program and Federal Direct Student Loans Award Number: Not applicable Award Listing Title: Federal Pell Grant Program and Federal Direct Student Loans Assistance Listing Numbers: 84.063 and 84.268 Award Year: 2023-2024 Pass-through entity: Not applicable Criteria Institutions must review, update, and certify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP). There are two categories of enrollment information, "Campus Level" and "Program Level," both of which need to be reported accurately and have separate record types. (34 CFR 685.309) Additionally, when a Direct Loan was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, and the student ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or a student who is enrolled at the institution and who received a loan under Title IV has changed his or her permanent address, the institution must report the change in its next updated Enrollment Reporting Roster file (due within 60 days of the change). (34 CFR 685.309) Condition Through testing of 16 student enrollment status changes, we noted that 3 out of 16 student selections were not reported to NSLDS within 60 days of the effective change date. On average, they were reported 10 days late. Cause The Institution utilizes the National Student Clearinghouse (NSC) to report status changes. The Institution does not provide status changes to NSC until first of term reporting following the add/drop period. Once the Institution sends changes to NSC, there is a lag between NSLDS receiving the enrollment status change data. As such, more than 60 days had elapsed before either a withdrawn or graduation status was reported to NSLDS. Effect The effective administration of Title IV loans could be impacted when changes in students' status are not reported timely and accurately. The accuracy of enrollment information is important as the student's enrollment status determines eligibility for the in-school status, deferment, grace periods, and repayments, as well as the Government's payment of interest subsidies. Questioned Costs None identified. Recommendation We recommend that the lag in timing of submission of date to NSC and ultimate transmittal to NSLDS is taken into consideration when a student withdraws at Amherst to ensure timely reporting in the future. Management’s Views and Corrective Action Plan Management's response is included in "Management’s Views and Corrective Action Plan included at the end of this report after the summary schedule of status of prior audit findings.
Finding 2024-001
2024-001 Enrollment reporting Sponsoring Agency: Department of Education Cluster: Student Financial Assistance Award Names: Pell Grant Program and Federal Direct Student Loans Award Number: Not applicable Award Listing Title: Federal Pell Grant Program and Federal Direct Student Loans Assistance Listing Numbers: 84.063 and 84.268 Award Year: 2023-2024 Pass-through entity: Not applicable Criteria Institutions must review, update, and certify student enrollment statuses, program information, and effective dates that appear on the Enrollment Reporting Roster file or on the Enrollment Maintenance page of the NSLDS Professional Access (NSLDSFAP). There are two categories of enrollment information, "Campus Level" and "Program Level," both of which need to be reported accurately and have separate record types. (34 CFR 685.309) Additionally, when a Direct Loan was made to or on behalf of a student who was enrolled or accepted for enrollment at the institution, and the student ceased to be enrolled on at least a half-time basis or failed to enroll on at least a half-time basis for the period for which the loan was intended; or a student who is enrolled at the institution and who received a loan under Title IV has changed his or her permanent address, the institution must report the change in its next updated Enrollment Reporting Roster file (due within 60 days of the change). (34 CFR 685.309) Condition Through testing of 16 student enrollment status changes, we noted that 3 out of 16 student selections were not reported to NSLDS within 60 days of the effective change date. On average, they were reported 10 days late. Cause The Institution utilizes the National Student Clearinghouse (NSC) to report status changes. The Institution does not provide status changes to NSC until first of term reporting following the add/drop period. Once the Institution sends changes to NSC, there is a lag between NSLDS receiving the enrollment status change data. As such, more than 60 days had elapsed before either a withdrawn or graduation status was reported to NSLDS. Effect The effective administration of Title IV loans could be impacted when changes in students' status are not reported timely and accurately. The accuracy of enrollment information is important as the student's enrollment status determines eligibility for the in-school status, deferment, grace periods, and repayments, as well as the Government's payment of interest subsidies. Questioned Costs None identified. Recommendation We recommend that the lag in timing of submission of date to NSC and ultimate transmittal to NSLDS is taken into consideration when a student withdraws at Amherst to ensure timely reporting in the future. Management’s Views and Corrective Action Plan Management's response is included in "Management’s Views and Corrective Action Plan included at the end of this report after the summary schedule of status of prior audit findings.