Audit 382227

Special Tests. Questioned Costs: $37. Condition: Each year, the Department of Education requires the College to verify information on student aid applications. While doing so, an incorrect parent AGI was used that was higher than the actual AGI amount on a particular student. Criteria: Per the Student Financial Assistance Program Compliance Supplement, November 2025, the Special Test compliance requirements "Verification", the College has many requirements pertaining to verifying financial aid information provided by students and parents. Specifically, the College must match information on the verification documentation to the student aid application. Cause: The incorrect higher AGI amount was due to a data entry error. Effect: The College was not in compliance with the verification requirements under Special Tests. Recommendation: We recommend the College implement internal control procedures to ensure that all verification information is entered correctly. View of Responsible Officials: Management acknowledges the finding and has prepared a corrective action plan. Anticipated Date of Completion: June 30, 2026

Special Tests. Questioned Costs: $0. Condition: The College had one instance out of the 13 tested where a student's verification form was not signed off on by the verifying financial aid advisor. Criteria: The College has implemented a control for the compliance requirement verification that requires the verifying employee to sign off on the verification sheet to indicate that the verification was complete. Cause: The missing signature was an inadvertent omission. Effect: The implemented control did not function as designed in this instance. Recommendation: We suggest that the College emphasize the importance of consistent application of established controls. View of Responsible Officials: Management acknowledges the finding and has prepared a corrective action plan. Anticipated Date of Completion: June 30, 2026

Special Tests. Questioned Costs: $64. Condition: A student's first disbursement date was 10/25/24 but their award letter date appears to be 5/30/25. Upon further investigation, the student's unsubsidized loan needed to be prorated based on how many hours the student was taking as it was their last term before graduation. When the loan amount granted was prorated, the calculation was rounded instead of the required truncating which resulted in the loan amount awarded being too high by $64. Criteria: Per the Student Financial Assistance Program Compliance Supplement, November 2025, the Special Test compliance requirement "disbursements to or on behalf of students", the College must provide notification to the student of the amount and type of Title IV funds they are expected to receive and how and when disbursements will be made before the disbursement is made and that the disbursement amount complied with the requirements for allowable current year and prior year charges. Cause: The discrepancy was caused by an oversight during the percentage calculation process (rounding vs truncating). Effect: The College awarded a student $64 more in unsubsidized loans than was allowable. Recommendation: We recommend that supplemental training be provided to financial aid employees. View of Responsible Officials: Management acknowledges the finding and has prepared a corrective action plan. Anticipated Date of Completion: June 30, 2026

Special Tests. Questioned Costs: $0. Condition: The College has one instance out of 25 tested where a student's direct loan notification letter was sent out 14 days after the first disbursement date. Criteria: Per the Student Financial Assistance Program Compliance Supplement, November 2025, the Special Test compliance requirement "disbursements to or on behalf of students", the College must send the direction notification letter to students no later than seven days after crediting the student's account. Cause: The late notification was caused by an inadvertent oversight. Effect: The College was seven days late in sending the direct notification letter. Recommendation: We recommend the College implement processes to ensure that all direct notification letters are sent timely. View of Responsible Officials: Management acknowledges the finding and has prepared a corrective action plan. Anticipated Date of Completion: June 30, 2026