FAC Explorer

Audit 361246

FY End
2024-06-30
Total Expended
$29.76M
Findings
24
Programs
34
Organization: Dillard University (LA)
Year: 2024 Accepted: 2025-07-01
Auditor: Sean M Bruno CPAS

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
569976 2024-002 Material Weakness - N
569977 2024-003 Material Weakness Yes E
569978 2024-004 Material Weakness - L
569979 2024-005 Material Weakness - L
569980 2024-005 Material Weakness - L
569981 2024-005 Material Weakness - L
569982 2024-005 Material Weakness - L
569983 2024-005 Material Weakness - L
569984 2024-005 Material Weakness - L
569985 2024-005 Material Weakness - L
569986 2024-005 Material Weakness - L
569987 2024-005 Material Weakness - L
1146418 2024-002 Material Weakness - N
1146419 2024-003 Material Weakness Yes E
1146420 2024-004 Material Weakness - L
1146421 2024-005 Material Weakness - L
1146422 2024-005 Material Weakness - L
1146423 2024-005 Material Weakness - L
1146424 2024-005 Material Weakness - L
1146425 2024-005 Material Weakness - L
1146426 2024-005 Material Weakness - L
1146427 2024-005 Material Weakness - L
1146428 2024-005 Material Weakness - L
1146429 2024-005 Material Weakness - L

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $10.84M Yes 3
84.031 Higher Education Institutional Aid $6.42M - 0
84.063 Federal Pell Grant Program $4.90M Yes 1
84.425 Education Stabilization Fund $3.97M Yes 1
84.044 Trio Talent Search $423,085 Yes 1
84.033 Federal Work-Study Program $352,452 Yes 2
84.042 Trio Student Support Services $328,356 Yes 1
84.217 Trio McNair Post-Baccalaureate Achievement $318,672 Yes 1
12.800 Air Force Defense Research Sciences Program $280,806 - 0
93.859 Biomedical Research and Research Training $181,856 - 0
84.007 Federal Supplemental Educational Opportunity Grants $181,661 Yes 1
84.120 Minority Science and Engineering Improvement $157,699 - 0
47.076 Stem Education (formerly Education and Human Resources) $103,266 - 0
45.162 Promotion of the Humanities Teaching and Learning Resources and Curriculum Development $87,534 - 0
93.364 Nursing Student Loans $83,000 Yes 1
94.006 Americorps State and National 94.006 $77,147 - 0
84.184 School Safely National Activities $77,103 - 0
93.084 Prevention of Disease, Disability, and Death by Infectious Diseases $59,951 - 0
93.391 Activities to Support State, Tribal, Local and Territorial (stlt) Health Department Response to Public Health Or Healthcare Crises $57,322 - 0
93.368 21st Century Cures Act - Precision Medicine Initiative $55,803 - 0
47.050 Geosciences $54,031 - 0
81.049 Office of Science Financial Assistance Program $52,049 - 0
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $40,166 - 0
12.902 Information Security Grants $26,205 - 0
47.075 Social, Behavioral, and Economic Sciences $25,354 - 0
93.421 Strengthening Public Health Systems and Services Through National Partnerships to Improve and Protect the Nation’s Health $21,856 - 0
47.070 Computer and Information Science and Engineering $15,677 - 0
93.865 Child Health and Human Development Extramural Research $15,210 - 0
43.001 Science $14,678 - 0
15.932 Preservation of Historic Structures on the Campuses of Historically Black Colleges and Universities (hbcus). $11,400 - 0
93.307 Minority Health and Health Disparities Research $9,154 - 0
10.217 Higher Education - Institution Challenge Grants Program $7,258 - 0
43.008 Office of Stem Engagement (ostem) $6,818 - 0
19.009 Academic Exchange Programs - Undergraduate Programs $2,310 - 0

Contacts

Name Title Type
FR9LM1J86MJ5 Charles Cansler Auditee
5048164039 Sean M. Bruno Auditor
No contacts on file

Notes to SEFA

Title: NOTE 1 - GENERAL Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. Dillard University (the University) located in New Orleans, Louisiana is an institution of higher education founded in 1869. The University is a private, historically black liberal arts college that is affiliated with the United Church of Christ and the United Methodist Church, with degree-granting academic units which include the following: -- School of Accounting and Financial Economics; -- School of Population and Health Sciences; -- School of Humanities; -- School of Science, Technology, Engineering and Math; -- School of Social Sciences; -- School of Business Administration; and -- College of Nursing. The University is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools. Dillard University is the recipient of various Federal grants, subgrants and awards from the U.S. Department of Defense, U.S. Department of Education, the U.S. Department of Health and Human Services, U.S. Department of Homeland Security, U.S. Department of Housing and Urban Development, and other agencies to assist in achieving a higher level of learning for its student body. Total direct federal and federal awards passed through other agencies amounted to more than $29,764,784 for the fiscal year July 1, 2023 through June 30, 2024. Student Financial Aid Dillard University was approved by the then Office of Education for participation in the Student Financial Aid Programs. These programs include the Nursing Student Loan Program (NSL), Federal Work Study Program (FWS), Federal Supplemental Education Opportunity Grant Program (FSEOG), Federal PELL Grant and the Federal Direct Student Loan Program (Direct). Listed below is a brief description of the Student Aid Programs administered by the University. The authority for schools to make new Federal Perkins Loans ended September 30, 2017. o Nursing Student Loan Program The University entered into an agreement with the U.S. Department of Health and Human Services to establish a Nursing Student Loan Program. During the year ended June 30, 2024, $83,000 in Nursing Student Loans were disbursed to students. o Federal Work-Study Program The University established the FWS Program pursuant to Title IV, Part C of the Higher Education Act of 1965, as amended. During the year ended June 30, 2024, federal expenditures totaled $352,452 The University elected and received approval from the U.S. Department of Education to waive the institutional matching requirement for the Federal Work Study Program's approved funding level for the fiscal year ended June 30, 2024. The University was entitled to this waiver because of its participation in the Strengthening Historically Black Colleges Title III Program. o FSEOG Program The FSEOG Program was established at the University in 1965 under Title IV, Part A of the Higher Education Act of 1965, as amended. During the year ended June 30, 2024, federal expenditures totaled $181,661. The University received approval from the U.S. Department of Education to waive the institutional matching requirement for the FSEOG Program. o Federal Pell Grant Program The University entered into an agreement with the Office of Education to participate in the Federal Pell Grant Program. This program provides eligible students with a foundation of financial aid to help defray the costs of post-secondary education. During the year ended June 30, 2024, Federal Pell Grant awards to full-time and part-time students totaled $4,901,269. o Federal Direct Student Loan Program The Federal Direct Student Loan Program enables eligible undergraduate and graduate students to borrow directly from a bank or other lending institution. During the current year, approximately $10,835,955 was disbursed to students under the Federal Direct Student Loan Program. The Federal Direct Student Loan Program's Cohort default rate is 0.0%. The Student Financial Aid programs are administered by the University’s Financial Aid Department. All accounting for the Student Financial Aid programs is performed by the University’s Division of Business and Finance, in conjunction with the Department of Recruitment, Admissions and Retention. The Financial Aid office is under the control of the Department of Recruitment, Admissions and Retention which reports to the President.
Title: NOTE 2 - BASIS OF PRESENTATION AND ACCOUNTING Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of the University under programs of the federal government for the year ended June 30, 2024. The information in the Schedule of Expenditures of Federal Awards 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 activities of the University, it is not intended to and does not present either the financial position, changes in net assets, cash flows or the current fund's revenues, expenditures, and other changes of the University. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. The purpose of the Schedule of Expenditures of Federal Awards is to present a summary of those activities of the University for the year ended June 30, 2024 which have been financed principally by the U. S. Government (federal awards). For purposes of the Schedule, federal awards include all Federal assistance and procurement relationships entered into directly between the University and the federal government and sub-awards from non-federal organizations made under federally sponsored agreements.
Title: NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement.
Title: NOTE 4 - PROGRAM ORGANIZATION AND FINANCING - (NURSING LOAN PROGRAM) Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. The Nursing Loan Program is operated by the University under an agreement with the Department of Health and Human Services. The accounts of the program are included among the Loan Funds of the University. The University disbursed Nursing loans to students totaling $83,000.
Title: NOTE 5 - CONTINGENCIES Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. Participation in Grant Programs The University administers and participates in certain federal and state programs as disclosed in the Schedule of Expenditures of Federal Awards. In connection with the administration and operations of these grants, the University is to expend grant funds and allocations in accordance with program guidelines and regulations. However, should the University have operated or administered the programs and/or grants in a manner which would be in non-compliance with the guidelines and regulations, the University may be required by the funding sources to repay some portion or all of the grant award.
Title: NOTE 6 - MAJOR FEDERAL FINANCIAL ASSISTANCE PROGRAMS Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. The University’s major federal financial assistance program for the year ended June 30, 2024 was determined based on guidelines established by the Uniform Guidance. Such programs are the Student Financial Assistance Cluster. TRIO Cluster and COVID-19 Education Stabilization Fund.
Title: NOTE 7 - INDIRECT COST RATE Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 8 - SUBRECIPIENTS Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. Of the federal expenditures presented in the Schedule, the University did not provide federal awards to sub recipients.
Title: NOTE 9 - LOANS AND LOAN GUARANTEES OUTSTANDING AND OTHER NON-CASH ASSISTANCE Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. The federal student loan programs are administered directly by the University, and balances and transactions relating to these programs are included in the University’s basic financial statements. Loans made during the year are included in the federal expenditures presented in the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards and the related notes include certain loans and loan guarantees outstanding as well as non-cash assistance as presented in the Schedule I, Schedule of Disclosures for Federally Assisted Loans. Outstanding loan balances are only presented for those programs with significant compliance requirements other than repayment.
Title: NOTE 10 - SUBSEQUENT EVENTS Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. The University has evaluated subsequent events from July 1, 2024 to June 20, 2025 the date the financial statements were available to be issued and determined that no events occurred that required disclosure. No subsequent events occurring after this date have been evaluated for inclusion in these financial statements.
Title: NOTE 11 - FINANCIAL RESPONSIBILITY Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards is presented on the same basis of accounting as the financial statements, although the basis for determining when federal awards are expensed is presented in accordance with the Uniform Guidance. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as tor reimbursement. De Minimis Rate Used: N Rate Explanation: The University has not elected to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance. Section 498(c)(1) of the Higher Education Act authorizes the Secretary of the Department to establish ratios and other criteria for determining whether an institution has sufficient financial responsibility. Section 668.172 of the current regulation, originally effective July 1, 1998, established a methodology based on three (3) ratios—primary reserve, equity, and net income—that measure different aspects of financial health and are combined into a composite score to measure financial responsibility. Several mathematical steps are required to combine an institution's ratio results into a composite score: • Determine the value of each ratio; • Calculate a strength factor score for each ratio using the appropriate algorithm; • Calculate a weighted score for each ratio by multiplying the strength factor score by its corresponding weighted percentage; and • Add the weighted scores to arrive at the composite score. Institutions receiving a composite score of 1.5 or greater are considered financially responsible. An institution that fails the financial responsibility standards may continue to participate in the Title IV programs under provisional certification for three (3) years. To continue to participate in the Title IV programs under provisional certification, an institution will be required to provide surety to the Department of Education of ten (10) percent or more of its previous year’s Title IV funding, as determined by the Department of Education. Dillard included the debt obtained through long-term lines of credit in total debt obtained for long-term purposes that exceeds 12 months and was used to fund capitalized assets (i.e., property, plant and equipment).

Finding Details

Finding 2024-002
Audit Finding Reference Number 2024-002 – Student Status Confirmation Report Federal Program and Specific Federal Award Identification CFDA Title and Number 84.268 Federal Direct Student Loan (Direct) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Title IV Regulations, 34 CFR Section 682.610 (c) (i) (ii) (iii) stipulated that if a university discovers that a loan has been made to or on behalf of a student who enrolled at that school, but who has ceased to be enrolled on at least a half-time basis; a student who has been accepted for enrollment at that school, but who failed to enroll on at least a half-time basis for the period for which the loan was intended, or a full-time student who has ceased to be enrolled on a full-time basis, the University must notify the guarantee agency. Conditions and Perspectives I noted during my audit ten (10) students out of twenty-five (25) tested whose enrollment status was not reported correctly on the student status confirmation reports. Cause It appears that the University did not properly report the student’s enrollment status to the guarantee agency. Questioned Costs For purposes of the condition, I do not have any questioned costs. Effect Noncompliance with federal regulations. The University did not properly report the student’s status to the guarantee agency. Repeat Finding No. Recommendation I recommend that the University determine the student’s proper enrollment status and report the accurate status to the guarantee agency. Management Response The University acknowledges the enrollment status reporting errors noted in the audit. This was due to a lack of coordination between departments responsible for enrollment status updates and NSLDS reporting. Under the direction of the interim Controller, the University will work with Financial Aid to implement a monthly reconciliation process and establish clear ownership of status reporting responsibilities. A tracking log will be introduced to monitor timely and accurate submissions. Completion of corrective actions is expected by March 31, 2026.
Finding 2024-003
Audit Finding Reference Number Questioned Cost 2024-003 – Annual and Aggregate Loan Limits $1,000 Federal Program and Specific Federal Award Identification CFDA Title and Number 84.268 Federal Direct Student Loan (Direct) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Title IV regulations, 34 CFR 685.203 (b) stipulates that a dependent student may receive an additional unsubsidized loan in the amount of $2,000. Students whose parents are likely to be precluded by exceptional circumstances from receiving a PLUS loan may be eligible for an unsubsidized loan beyond the base amount of $2,000. The total amount of Direct unsubsidized loans but excluding the amount of capitalized interest may not exceed (1) for a dependent undergraduate student, $23,000, or, effective July 1, 2008, $31,000, minus any Direct subsidized loan, and (2) for an independent undergraduate or a dependent undergraduate who qualifies for additional eligibility, $57,500, minus any Direct subsidized loan. Conditions and Context I noted during my audit one (1) student out of twenty-five (25) tested received $1,000 in unsubsidized loans in excess of the aggregate loan limit of $8,000. However, the University has made adjustments to the student’s billing statements and returned the funds to the Department of Education prior to issuance of the report. Cause It appears that the University did not ensure that the student was eligible to receive the loan proceeds. Questioned Costs For the purposes of this condition, I have questioned costs totaling $1,000 related to the Direct loan program. Effect The University has not adhered to Title IV regulations regarding the disbursing of loan funds in accordance with the regulations. However, the University has made adjustments to the student’s billing statements and returned the funds to the Department of Education prior to issuance of the report. Repeat Finding Yes. See 2023-002. Management’s Response This finding resulted from a loan disbursement exceeding regulatory limits for one student. The issue was corrected before the audit report was finalized. The University will strengthen its review process prior to disbursement by ensuring additional loan eligibility is validated and documented. The Financial Aid Office will receive targeted training on aggregate loan monitoring. Corrective actions will be fully implemented by January 31, 2026.
Finding 2024-004
Audit Finding Reference Number 2024-004 – Fiscal Operations Report and Application to Participate (FISAP) Federal Program and Specific Federal Award Identification CFDA Title and Number 84.033 Federal Work Study Program (FWS) 84.038 Federal Perkins Loan Program Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria OMB 2 CFR 200, Subpart F Compliance Supplement Part 5, Appendix A, Student Financial Assistance – Reporting Compliance Requirement, Special Reporting Section (L) (3) indicates that the University should submit its FISAP report containing critical information. The Compliance Supplement requires the auditor to examine financial reports to provide reasonable assurance that the reports of Federal awards submitted to the Federal awarding agency or pass-through entity include all activity of the reporting period, be supported by underlying accounting or performance records, and are fairly presented in accordance with program requirements. Conditions and Context During my audit of the FISAP report, I noted several key line items reported incorrect data from the University’s accounting records: • Part III- Federal Perkins Loan Program, Section A. Fiscal Report (Cumulative), • Part III – Federal Perkins Loan Program, Section F. Capital Contribution to the Perkins Fund, and • Part V – Federal Work-Study (FWS) Program, Section C. Total Compensation for FWS. Cause Changes in the University’s staffing prevented key personnel from completing the FISAP reporting correctly and adequately. Questioned Costs For the purpose of this finding, I have not questioned any costs. Effect The University is not in compliance with the federal reporting requirements. Repeat Finding No.   Recommendation I recommend that the University implement controls to ensure the FISAP is submitted with all supporting documentation provided and available for review. Management’s Response The University concurs with this finding. Due to turnover in critical roles, the FY24 FISAP contained inaccuracies. The University has appointed an interim Controller to oversee the correction of reporting processes. The new process will require that all FISAP data be supported by reconciled financial records and reviewed collaboratively by Financial Aid and Accounting staff. Process updates and internal review checklists will be developed in time for the FY25 submission, with training and testing of the new approach by June 30, 2026.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-002
Audit Finding Reference Number 2024-002 – Student Status Confirmation Report Federal Program and Specific Federal Award Identification CFDA Title and Number 84.268 Federal Direct Student Loan (Direct) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Title IV Regulations, 34 CFR Section 682.610 (c) (i) (ii) (iii) stipulated that if a university discovers that a loan has been made to or on behalf of a student who enrolled at that school, but who has ceased to be enrolled on at least a half-time basis; a student who has been accepted for enrollment at that school, but who failed to enroll on at least a half-time basis for the period for which the loan was intended, or a full-time student who has ceased to be enrolled on a full-time basis, the University must notify the guarantee agency. Conditions and Perspectives I noted during my audit ten (10) students out of twenty-five (25) tested whose enrollment status was not reported correctly on the student status confirmation reports. Cause It appears that the University did not properly report the student’s enrollment status to the guarantee agency. Questioned Costs For purposes of the condition, I do not have any questioned costs. Effect Noncompliance with federal regulations. The University did not properly report the student’s status to the guarantee agency. Repeat Finding No. Recommendation I recommend that the University determine the student’s proper enrollment status and report the accurate status to the guarantee agency. Management Response The University acknowledges the enrollment status reporting errors noted in the audit. This was due to a lack of coordination between departments responsible for enrollment status updates and NSLDS reporting. Under the direction of the interim Controller, the University will work with Financial Aid to implement a monthly reconciliation process and establish clear ownership of status reporting responsibilities. A tracking log will be introduced to monitor timely and accurate submissions. Completion of corrective actions is expected by March 31, 2026.
Finding 2024-003
Audit Finding Reference Number Questioned Cost 2024-003 – Annual and Aggregate Loan Limits $1,000 Federal Program and Specific Federal Award Identification CFDA Title and Number 84.268 Federal Direct Student Loan (Direct) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Title IV regulations, 34 CFR 685.203 (b) stipulates that a dependent student may receive an additional unsubsidized loan in the amount of $2,000. Students whose parents are likely to be precluded by exceptional circumstances from receiving a PLUS loan may be eligible for an unsubsidized loan beyond the base amount of $2,000. The total amount of Direct unsubsidized loans but excluding the amount of capitalized interest may not exceed (1) for a dependent undergraduate student, $23,000, or, effective July 1, 2008, $31,000, minus any Direct subsidized loan, and (2) for an independent undergraduate or a dependent undergraduate who qualifies for additional eligibility, $57,500, minus any Direct subsidized loan. Conditions and Context I noted during my audit one (1) student out of twenty-five (25) tested received $1,000 in unsubsidized loans in excess of the aggregate loan limit of $8,000. However, the University has made adjustments to the student’s billing statements and returned the funds to the Department of Education prior to issuance of the report. Cause It appears that the University did not ensure that the student was eligible to receive the loan proceeds. Questioned Costs For the purposes of this condition, I have questioned costs totaling $1,000 related to the Direct loan program. Effect The University has not adhered to Title IV regulations regarding the disbursing of loan funds in accordance with the regulations. However, the University has made adjustments to the student’s billing statements and returned the funds to the Department of Education prior to issuance of the report. Repeat Finding Yes. See 2023-002. Management’s Response This finding resulted from a loan disbursement exceeding regulatory limits for one student. The issue was corrected before the audit report was finalized. The University will strengthen its review process prior to disbursement by ensuring additional loan eligibility is validated and documented. The Financial Aid Office will receive targeted training on aggregate loan monitoring. Corrective actions will be fully implemented by January 31, 2026.
Finding 2024-004
Audit Finding Reference Number 2024-004 – Fiscal Operations Report and Application to Participate (FISAP) Federal Program and Specific Federal Award Identification CFDA Title and Number 84.033 Federal Work Study Program (FWS) 84.038 Federal Perkins Loan Program Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria OMB 2 CFR 200, Subpart F Compliance Supplement Part 5, Appendix A, Student Financial Assistance – Reporting Compliance Requirement, Special Reporting Section (L) (3) indicates that the University should submit its FISAP report containing critical information. The Compliance Supplement requires the auditor to examine financial reports to provide reasonable assurance that the reports of Federal awards submitted to the Federal awarding agency or pass-through entity include all activity of the reporting period, be supported by underlying accounting or performance records, and are fairly presented in accordance with program requirements. Conditions and Context During my audit of the FISAP report, I noted several key line items reported incorrect data from the University’s accounting records: • Part III- Federal Perkins Loan Program, Section A. Fiscal Report (Cumulative), • Part III – Federal Perkins Loan Program, Section F. Capital Contribution to the Perkins Fund, and • Part V – Federal Work-Study (FWS) Program, Section C. Total Compensation for FWS. Cause Changes in the University’s staffing prevented key personnel from completing the FISAP reporting correctly and adequately. Questioned Costs For the purpose of this finding, I have not questioned any costs. Effect The University is not in compliance with the federal reporting requirements. Repeat Finding No.   Recommendation I recommend that the University implement controls to ensure the FISAP is submitted with all supporting documentation provided and available for review. Management’s Response The University concurs with this finding. Due to turnover in critical roles, the FY24 FISAP contained inaccuracies. The University has appointed an interim Controller to oversee the correction of reporting processes. The new process will require that all FISAP data be supported by reconciled financial records and reviewed collaboratively by Financial Aid and Accounting staff. Process updates and internal review checklists will be developed in time for the FY25 submission, with training and testing of the new approach by June 30, 2026.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.
Finding 2024-005
Audit Finding Reference Number 2024-005 – Late Submission of Audit Report Federal Program and Specific Federal Award Identification CFDA Title and Number Student Financial Aid Cluster: 84.007 Federal Supplemental Educational Opportunity Grant 84.033 Federal Work-Study Program 84.063 Federal Pell Grant Program 84.268 Federal Direct Student Loans 93.364 Nursing Student Loans TRIO Cluster: 84.042 Student Support Services 84.044 Talent Search 84.217 McNair Post-Baccalaureate Achievement 84.425F COVID-19 Education Stabilization Fund – Institutional Portion 84.425J COVID-19 Education Stabilization Fund – Historically Black Colleges and Universities (HBCU) Federal Award Year June 30, 2024 Federal Agencies U. S. Department of Education Pass-Through Entity Not applicable Criteria Pursuant to the requirement of Uniform Guidance 2 CFR Part 200.512(a), single audit are required to be completed and the data collection form and reporting package submitted within the earlier of thirty (30) days after receipt of the auditor’s report, or nine (9) months after the end of the audit period. If the due date falls on a Saturday, Sunday, or federal holiday, the reporting package is due the next business day. Conditions and Contexts The June 30, 2024 audit report was not submitted within the prescribed time frame required by the federal regulations. The audit report was outstanding nine (9) months after the entity’s fiscal year end. Cause Management failed to ensure the audit report was issued within the prescribed time frame. Questioned Costs For the purposed of this condition, I have no questioned costs. Effect The University has not complied with the audit requirements of the Uniform Guidance 2 CFR Part 200.512(a).   Repeat Finding No. Recommendation I recommend that management of the University take steps to ensure the Single Audit report is submitted within the prescribed deadlines. Management’s Response The late audit submission was a result of significant leadership and staffing turnover, unresolved audit support items, and missing reconciliations from prior months. The University engaged an external firm to stabilize the finance function and has since appointed an interim Controller. Beginning with FY26, the University will adopt a rolling monthly close schedule, establish an internal audit prep calendar, and define internal deadlines for deliverables to external auditors. These steps will support timely completion of future audits. Target: Audit submission by March 31, 2026 for FY25.