FAC Explorer

Audit 393940

FY End
2025-06-30
Total Expended
$3.10M
Findings
1
Programs
4
Organization: Hannibal-Lagrange University (MO)
Year: 2025 Accepted: 2026-03-24
Auditor: CAPINCROUSE LLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1182524 2025-001 Material Weakness Yes E

Programs

ALN Program Spent Major Findings
84.268 FEDERAL DIRECT STUDENT LOANS $1.88M Yes 1
84.063 FEDERAL PELL GRANT PROGRAM $1.15M Yes 0
84.033 FEDERAL WORK-STUDY PROGRAM $43,068 Yes 0
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $30,632 Yes 0

Contacts

Name Title Type
C173L8LFLCE4 Sheri Haye Auditee
5732213675 Chris Dukate, CPA Auditor
No contacts on file

Notes to SEFA

See the Notes to the SEFA for chart/table
The University did not provide any federal funds to subrecipients nor did they receive any federal non-cash assistance, insurance, loans, or loan guarantees.

Finding Details

Finding 2025-001
Considering Subsidized Loans First Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Direct Student Loan Program Federal Award Identification #: P268K253147 Condition: Students were not appropriately awarded subsidized loans up to their eligible annual limit prior to considering unsubsidized loans. Criteria: 34 CFR 685.200(a)(1)(iii); HEA: Sec. 484 Questioned Costs: $6,250 Context: Out of 31 students tested, 6 students were under awarded $6,250 total in subsidized direct loans since they were awarded and disbursed below their maximum eligibility for the year. The amounts under awarded ranged from $375 - $2,062 per student. Cause: The University improperly reduced student's overall federal direct loans instead of just their unsubsidized direct loan. Effect: Incorrect allocation of subsidized versus unsubsidized which affects the amount and timing of interest the student must repay. Identification as repeat finding, if applicable: N/A Recommendation: We recommend the University ensure that students are awarded their maximum subsidized loan eligibility prior to considering unsubsidized loans. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.