Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as a reimbursement
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
2022-001 FINDING 2022-001-Late Notification to NSLDS N The Institution had not timely reported enrollment status changes for nine (9) students to the National Student Loan Data System (NSLDS) A. Comments on Findings and Recommendations The Institution agree with the finding and Auditor's recommendation. B. Actions Taken or Planned In comparing the NSLDS reports with the school's student records, we agree there was a variation in the dates. We will review our current policy and procedures and make necessary revisions to ensure timely future NSLDS reporting. We have also contacted our Title IV Servicer in regard to resolving this instance. We will work closely with our Servicer to avoid this type error in the future. Status of Corrective Actions on Prior Findings The audit report contains the Auditors Comment on Resolution Matters relating to Prior Year Audit Findings.
2022-001 FINDING 2022-001-Late Notification to NSLDS N The Institution had not timely reported enrollment status changes for nine (9) students to the National Student Loan Data System (NSLDS) A. Comments on Findings and Recommendations The Institution agree with the finding and Auditor's recommendation. B. Actions Taken or Planned In comparing the NSLDS reports with the school's student records, we agree there was a variation in the dates. We will review our current policy and procedures and make necessary revisions to ensure timely future NSLDS reporting. We have also contacted our Title IV Servicer in regard to resolving this instance. We will work closely with our Servicer to avoid this type error in the future. Status of Corrective Actions on Prior Findings The audit report contains the Auditors Comment on Resolution Matters relating to Prior Year Audit Findings.