FAC Explorer

Audit 351665

FY End
2024-06-30
Total Expended
$8.03M
Findings
2
Programs
5
Organization: Wisconsin Lutheran College, Inc. (WI)
Year: 2024 Accepted: 2025-03-31
Auditor: Sikich CPA LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
547476 2024-001 - - N
1123918 2024-001 - - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $6.31M Yes 1
84.063 Federal Pell Grant Program $1.49M Yes 0
84.033 Federal Work-Study Program $84,387 Yes 0
47.076 Education and Human Resources $74,270 - 0
84.007 Federal Supplemental Educational Opportunity Grants $60,883 Yes 0

Contacts

Name Title Type
C7LANLZSGEE1 Diane Hoehnke Auditee
4144438627 Ray Krouse Auditor
No contacts on file

Notes to SEFA

Title: FEDERAL LOAN PROGRAM Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended June 30, 2024, Wisconsin Lutheran College, Inc. acted as a pass-through agency for Direct Federal Stafford Loans (subsidized, unsubsidized and PLUS) to students and parents in the amount of $6,314,093.
Title: OTHER INFORMATION Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The College did not receive any federal insurance or federal noncash assistance and did not provide any amounts to sub-recipients.

Finding Details

Finding 2024-001
FINDING 2024-001 - UNPAID AND UNTIMELY PAID REFUNDS FEDERAL AGENCY: US DEPARTMENT OF EDUCATION PROGRAM NAME: FEDERAL DIRECT LOAN PROGRAM ALN: 84.268 FEDERAL AWARD YEAR: 2023-2024 COMPLIANCE REQUIREMENT: SPECIAL TESTS AND PROVISIONS (N.) - RETURN OF TITLE IV FUNDS CRITERIA: REFUNDS, IF NECESSARY, MUST BE CALCULATED AND MADE WITHIN 45 CALENDAR DAYS OF THE DATE THE STUDENT WITHDRAWS (34 CFR 668.22, 685.306). CONDITION: WE TESTED THIRTEEN DROP STUDENTS AND NOTED ONE UNPAID AND ONE UNTIMELY PAID REFUND. WE CONSIDER THIS FINDING TO BE INSTANCES OF NON-COMPLIANCE. CAUSE: THE CONDITION WAS CAUSED BY AN OVERSIGHT IN THE FINANCIAL AID DEPARTMENT. EFFECT OR POTENTIAL EFFECT: THE RESULT IS THE INSTITUTION IS RETAINING MONIES WHICH NEED TO BE RETURNED TO THE DEPARTMENT OF EDUCATION. QUESTIONED COSTS: $5,053 RECOMMENDATION: WE RECOMMEND THE INSTITUTION REFUND THE $4,704 FEDERAL DIRECT LOAN FUNDS TO THE DEPARTMENT OF EDUCATION AND INCREASE CONTROLS OVER PAYING REFUNDS. NO ACTION REQUIRED REGARDING PELL FUNDS AS THIS WAS A LATE REFUND. VIEWS OF RESPONSIBLE OFFICIALS: THE INSTITUTION AGREES WITH THE SINGLE AUDIT FINDING AND A RESPONSE IS INCLUDED IN THE CORRECTIVE ACTION PLAN.
Finding 2024-001
FINDING 2024-001 - UNPAID AND UNTIMELY PAID REFUNDS FEDERAL AGENCY: US DEPARTMENT OF EDUCATION PROGRAM NAME: FEDERAL DIRECT LOAN PROGRAM ALN: 84.268 FEDERAL AWARD YEAR: 2023-2024 COMPLIANCE REQUIREMENT: SPECIAL TESTS AND PROVISIONS (N.) - RETURN OF TITLE IV FUNDS CRITERIA: REFUNDS, IF NECESSARY, MUST BE CALCULATED AND MADE WITHIN 45 CALENDAR DAYS OF THE DATE THE STUDENT WITHDRAWS (34 CFR 668.22, 685.306). CONDITION: WE TESTED THIRTEEN DROP STUDENTS AND NOTED ONE UNPAID AND ONE UNTIMELY PAID REFUND. WE CONSIDER THIS FINDING TO BE INSTANCES OF NON-COMPLIANCE. CAUSE: THE CONDITION WAS CAUSED BY AN OVERSIGHT IN THE FINANCIAL AID DEPARTMENT. EFFECT OR POTENTIAL EFFECT: THE RESULT IS THE INSTITUTION IS RETAINING MONIES WHICH NEED TO BE RETURNED TO THE DEPARTMENT OF EDUCATION. QUESTIONED COSTS: $5,053 RECOMMENDATION: WE RECOMMEND THE INSTITUTION REFUND THE $4,704 FEDERAL DIRECT LOAN FUNDS TO THE DEPARTMENT OF EDUCATION AND INCREASE CONTROLS OVER PAYING REFUNDS. NO ACTION REQUIRED REGARDING PELL FUNDS AS THIS WAS A LATE REFUND. VIEWS OF RESPONSIBLE OFFICIALS: THE INSTITUTION AGREES WITH THE SINGLE AUDIT FINDING AND A RESPONSE IS INCLUDED IN THE CORRECTIVE ACTION PLAN.