FAC Explorer

Audit 388821

FY End
2025-05-31
Total Expended
$7.48M
Findings
2
Programs
7
Organization: Keystone College (PA)
Year: 2025 Accepted: 2026-02-24
Auditor: KOHANSKI AND COMPANY PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1175191 2025-001 Material Weakness Yes C
1175192 2025-001 Material Weakness Yes C

Programs

ALN Program Spent Major Findings
84.268 FEDERAL DIRECT STUDENT LOANS $4.27M Yes 1
84.063 FEDERAL PELL GRANT PROGRAM $2.14M Yes 1
84.038 FEDERAL PERKINS LOAN PROGRAM_FEDERAL CAPITAL CONTRIBUTIONS $802,392 Yes 0
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $115,626 Yes 0
23.002 APPALACHIAN AREA DEVELOPMENT $72,355 Yes 0
84.033 FEDERAL WORK-STUDY PROGRAM $52,518 Yes 0
10.558 CHILD AND ADULT CARE FOOD PROGRAM $36,249 Yes 0

Contacts

Name Title Type
EVNRN16ZFLK4 John Pullo Auditee
5709458505 Kelley Lindsay Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards (the "schedule") includes federal award activity of Keystone College (the "College") under programs of the federal government for the year ended May 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements of Federal Awards ("Uniform Guidance"). Because this Schedule presents only a selected portion of the operations of the College, it is not intended to and does not present the financial position, changes in net assets or cash flows of the College.
The College did not pass any awards through to subrecipients.
The Federal Perkins Loan Program (84.038) is administered directly by the College, and balances and transactions related to this program are included in the College's financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. Federal Perkins loans outstanding as of May 31, 2025 totaled $802,392. Total loans granted under the Federal Direct Student Loan Program (84.268), which were not made by the College but were recieved by its students, were $4,266,376 for the year ended May 31, 2025. The total outstanding loan balance under the Economic Injury Disaster Loan Program (59.008) is $1,888,789.

Finding Details

Finding 2025-001
Criteria: When Title IV funds are credited to a student account and they exceed the amount of tuition and fees, room and board, and other authorized charges assessed the student, a credit balance is created. The institution must pay the resulting credit balance directly to the student or parent borrower within 14 days after (1) the first day of class or a payment period if the credit balance occurred on or before that day, or (2) the balance occured that was after the first day of class. Condition: For two students out of twenty-five selected for testing, receipt of Title IV funds created an overpayment to the students' account which was returned to the students, but not in accordance with the criteria noted above. Cause: Manamement of the College has implemented procedures to ensure credit balances are returned within the required time frame. these students were identified and corrected after the procedures were implemented. Effect: The College was not in compliance with the requirements and students did not timely receive the Title IV funds to which they were entitled.