Audit 349889

FY End
2024-06-30
Total Expended
$11.28M
Findings
4
Programs
6
Organization: Cambridge College (MA)
Year: 2024 Accepted: 2025-03-28

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
539166 2024-001 Significant Deficiency Yes N
539167 2024-001 Significant Deficiency Yes N
1115608 2024-001 Significant Deficiency Yes N
1115609 2024-001 Significant Deficiency Yes N

Programs

Contacts

Name Title Type
ZLGNS2NAGH26 Dennis Madigan Auditee
6178730689 Alan Jutras Auditor
No contacts on file

Notes to SEFA

Title: LOANS OUTSTANDING Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Cambridge 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the College. De Minimis Rate Used: N Rate Explanation: The College has no Federal awards that include reimbursement for indirect costs. As such, the College has not elected to utilize the 10% deminimus indirect cost rate in Part 200.514 of the Uniform Guidance. During the period ended June 30, 2024, the College processed $10,397,362 of new loans under the Federal Direct Student Loan Program (“Direct Loan Program”). The College is responsible only for the performance of certain administrative duties with respect to the Direct Loan Program and, accordingly, the value of these loans is not reflected in the College’s basic financial statements. It is not practical to determine the balance of loans outstanding to students of the College under this program.

Finding Details

Federal Programs U.S. Department of Education Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award period ended June 30, 2024 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify 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 website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and timely and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and, • Classification of Instructional Program (“CIP”) code. Context and Condition: For 4 out of the 40 judgmentally selected changes, the student’s status was not reported correctly. In addition, for 7 out of the 40 judgmentally selected changes, the program-level enrollment effective date was not correctly reported. Cause: The correction action plan from the prior year finding was not fully implemented due to the timing of the finding in the prior year Uniform Guidance audit and staff turnover. Effect: Reporting data was not properly reported to the NSLDS for certain enrollment changes. As a result, lenders may not able to correctly assess when students should begin their grace period or enter loan repayments if the correct enrollment effective dates are not accurately or timely reported. Questioned Costs: None identified. Identified as a Repeat Finding: Yes, finding 2023-002. Recommendation: The College should implement procedures to ensure that students’ enrollment reporting data is reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. The College should also implement procedures to ensure this information is reviewed and approved by the appropriate individual. Views of Responsible Officials: Effective July 1, 2024, all student financial assistance processing has moved to Bay Path University.
Federal Programs U.S. Department of Education Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award period ended June 30, 2024 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify 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 website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and timely and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and, • Classification of Instructional Program (“CIP”) code. Context and Condition: For 4 out of the 40 judgmentally selected changes, the student’s status was not reported correctly. In addition, for 7 out of the 40 judgmentally selected changes, the program-level enrollment effective date was not correctly reported. Cause: The correction action plan from the prior year finding was not fully implemented due to the timing of the finding in the prior year Uniform Guidance audit and staff turnover. Effect: Reporting data was not properly reported to the NSLDS for certain enrollment changes. As a result, lenders may not able to correctly assess when students should begin their grace period or enter loan repayments if the correct enrollment effective dates are not accurately or timely reported. Questioned Costs: None identified. Identified as a Repeat Finding: Yes, finding 2023-002. Recommendation: The College should implement procedures to ensure that students’ enrollment reporting data is reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. The College should also implement procedures to ensure this information is reviewed and approved by the appropriate individual. Views of Responsible Officials: Effective July 1, 2024, all student financial assistance processing has moved to Bay Path University.
Federal Programs U.S. Department of Education Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award period ended June 30, 2024 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify 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 website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and timely and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and, • Classification of Instructional Program (“CIP”) code. Context and Condition: For 4 out of the 40 judgmentally selected changes, the student’s status was not reported correctly. In addition, for 7 out of the 40 judgmentally selected changes, the program-level enrollment effective date was not correctly reported. Cause: The correction action plan from the prior year finding was not fully implemented due to the timing of the finding in the prior year Uniform Guidance audit and staff turnover. Effect: Reporting data was not properly reported to the NSLDS for certain enrollment changes. As a result, lenders may not able to correctly assess when students should begin their grace period or enter loan repayments if the correct enrollment effective dates are not accurately or timely reported. Questioned Costs: None identified. Identified as a Repeat Finding: Yes, finding 2023-002. Recommendation: The College should implement procedures to ensure that students’ enrollment reporting data is reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. The College should also implement procedures to ensure this information is reviewed and approved by the appropriate individual. Views of Responsible Officials: Effective July 1, 2024, all student financial assistance processing has moved to Bay Path University.
Federal Programs U.S. Department of Education Federal Pell Grant Program (Assistance Listing Number 84.063) Federal Direct Student Loans (Assistance Listing Number 84.268) Award period ended June 30, 2024 Criteria: Under the Federal Pell Grant Program and U.S. Department of Education (“ED”) loan programs, institutions are required to report student enrollment information via the National Student Loan Data System (“NSLDS”) (OMB No. 1845-0035). The administration of the Title IV programs depends heavily on the accuracy and timeliness of the enrollment information reported by institutions. Institutions must review, update, and verify 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 website. The data on the institution’s Enrollment Reporting Roster, or Enrollment Maintenance page, is what NSLDS maintains as the most recently certified enrollment information. There are two categories of enrollment information; “Campus Level” and “Program Level,” both of which need to be reported accurately and timely and have separate record types. The NSLDS Enrollment Reporting Guide provides the requirements and guidance for reporting enrollment details using the NSLDS Enrollment Reporting Process. Required program-level data includes, but is not limited to: • Program enrollment status; • Program enrollment effective date; • Program begin date; • Published program length and measurement; and, • Classification of Instructional Program (“CIP”) code. Context and Condition: For 4 out of the 40 judgmentally selected changes, the student’s status was not reported correctly. In addition, for 7 out of the 40 judgmentally selected changes, the program-level enrollment effective date was not correctly reported. Cause: The correction action plan from the prior year finding was not fully implemented due to the timing of the finding in the prior year Uniform Guidance audit and staff turnover. Effect: Reporting data was not properly reported to the NSLDS for certain enrollment changes. As a result, lenders may not able to correctly assess when students should begin their grace period or enter loan repayments if the correct enrollment effective dates are not accurately or timely reported. Questioned Costs: None identified. Identified as a Repeat Finding: Yes, finding 2023-002. Recommendation: The College should implement procedures to ensure that students’ enrollment reporting data is reported to the NSLDS accurately and in accordance with the NSLDS Enrollment Guide. The College should also implement procedures to ensure this information is reviewed and approved by the appropriate individual. Views of Responsible Officials: Effective July 1, 2024, all student financial assistance processing has moved to Bay Path University.