Audit 355168

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-001 Timely Disbursement of Title IV Funds to Students Federal Student Aid Cluster Assistance Listing Numbers 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 U.S. Department of Education Criteria When an institution submits a drawdown request for funds utilizing the Department of Education’s (“DOE”) electronic grants management system, known as G5, the drawdown may not exceed the amount of funds needed to make immediate disbursements to eligible students and parents. If the request is accepted, the DOE initiates an electronic funds transfer to the institution’s account. The institution must then disburse the requested funds no later than three business days following receipt of those funds from the DOE. Condition and Context The University did not disburse the requested funds to the students within the three-business day requirement for thirteen of the forty-five disbursements tested. Specifically, eleven of the disbursements were for Direct Loans and two of the disbursements were for Pell spanning across both the fall and spring semesters. Questioned Cost Undetermined. Cause The University had a lack of oversight over disbursement of Title IV funding to students after drawing down funds from the DOE. The University did not properly disburse Title IV funding to students within the required timeframe. Effect The University is not in compliance with the cash management requirement of Title IV funding awarded to students. Recommendation We recommend the University consistently adhere to its system and reconcile drawdowns to the student records to ensure amounts disbursed to students for Title IV awards are timely distributed to students within three business days.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.

ITEM # 2024-002 Late Submission of Data Collection Form and Reporting Package All Federal Programs – Uniform Guidance Single Audit Reporting Requirement Criteria Section 200.512(a)–(b) of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (2 CFR Part 200, Uniform Guidance) requires the auditee (or its auditor acting on its behalf) to submit the Data Collection Form (Form SF-SAC) and the complete single-audit reporting package to the Federal Audit Clearinghouse (FAC) no later than the earlier of 30 calendar days after the audit report is issued, or nine months after the end of the audit period. The 2024 OMB Compliance Supplement (Part 2, § 200.512) identifies this filing deadline as part of the Reporting compliance requirement that is applicable to every federal program. Condition For the fiscal years ended June 30, 2023, and June 30, 2024, the University’s single-audit packages were filed with the FAC after the nine-month statutory deadline. Cause The delays in submission were primarily due to the implementation of a new accounting software system in fiscal year 2023 that caused delays in the audit process in 2023 and turnover in critical accounting roles in fiscal year 2023 and 2024 that caused delays in the audit in 2024. Effect Late submission of the single audit reporting package limits the federal awarding agencies' and pass-through entities' ability to perform timely evaluations of the auditee’s financial and compliance standing. Repeated late filings may impact future funding decisions and increase oversight or monitoring requirements. Questioned Costs None. Recommendation We recommend that the University strengthen its year-end financial reporting and audit preparation processes to ensure timely completion and submission of the single audit report. This may include developing a detailed closing calendar, assigning additional resources, and closely monitoring the audit timeline to comply with the Uniform Guidance requirements.