FAC Explorer

Audit 387298

FY End
2025-06-30
Total Expended
$20.97M
Findings
2
Programs
5
Organization: Missouri Baptist University (MO)
Year: 2025 Accepted: 2026-02-13
Auditor: FORVIS MAZARS LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1173577 2025-002 Material Weakness Yes N
1173578 2025-002 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
84.268 FEDERAL DIRECT STUDENT LOANS $16.49M Yes 1
84.063 FEDERAL PELL GRANT PROGRAM $4.01M Yes 1
84.033 FEDERAL WORK-STUDY PROGRAM $225,465 Yes 0
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $177,696 Yes 0
84.379 TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS (TEACH GRANTS) $70,519 Yes 0

Contacts

Name Title Type
LKCLTEAZYHK4 Oran Woodworth Auditee
3143922356 Leslie Wilson Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Missouri Baptist University under programs of the federal government for the year ended June 30, 2025. The information in this Schedule 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 operations of the University, it is not intended to and does not present the financial position, changes in net assets or cash flows of the University.
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 to reimbursement.
The University has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
For the purposes of the schedule of expenditures of federal awards, loans made to students under the Federal Direct Student Loans program are presented as federal expenditures. Neither the funds advanced to students, nor the outstanding loan balance are included in the financial statements, since the loans are made and subsequently collected by the federal government.

Finding Details

Finding 2025-002
Information on the Federal Program: Student Financial Assistance Cluster, Assistance Listing Number 84.268 Federal Direct Student Loans, Assistance Listing Number 84.063 Federal Pell Grant Program, U.S. Department of Education Program Year 2024-2025 Criteria or Specific Requirement: Special Tests and Provisions - Return of Title IV Funds (34 CFR 668.22) Condition: Federal regulations provide that the University is responsible for returning funds to ED and student accounts within 45 days of the University becoming aware the student has withdrawn, or within 30 days for students that never began attendance. The University’s internal control system did not prevent certain late disbursements of return of funds. Questioned Costs: None Context: Out of a population of 40 withdrawn students requiring return of Title IV funds, a sample of 5 withdrawn students were selected for testing. All 5 of the returns were not returned to ED or the student within the required time frame. Of these students, 4 of the 5 returns were not returned to ED within the 45 day period. Additionally, 2 of the 5 returns were not returned to ED or the student within the 30 day period for students that never began attendance. Our sample was not, and was not intended to be, statistically valid. Effect: The University may not be able to timely detect when return of funds are required for students who have withdrawn or never began attendance. This could result in late disbursements to ED and the student accounts for Direct Loan and Pell recipients. Cause: The University's processes did not ensure return of Title IV funds were completed accurately and timely. Identification as a Repeat Finding, if Applicable: 2024-001 Recommendation: We recommend the University evaluate controls around monitoring return of Title IV funds to determine changes, either on the electronic processes or review processes that should be made to properly capture return of Title IV funds on a timely basis. Views of Responsible Officials and Planned Corrective Action: Management concurs with the finding and recommendation. See further information on the corrective action plan provided by management.