FAC Explorer

Audit 39518

FY End
2022-06-30
Total Expended
$6.74M
Findings
8
Programs
8
Organization: Notre Dame De Namur University (CA)
Year: 2022 Accepted: 2023-03-29
Auditor: Hood & Strong LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
42116 2022-002 - - N
42117 2022-002 - - N
42118 2022-002 - - N
42119 2022-001 - - N
618558 2022-002 - - N
618559 2022-002 - - N
618560 2022-002 - - N
618561 2022-001 - - N

Programs

ALN Program Spent Major Findings
84.031 Higher Education_institutional Aid $596,746 - 0
84.038 Federal Perkins Loan Program-Outstanding As of July 1, 2021 $395,323 Yes 0
84.425 Education Stabilization Fund $339,975 Yes 0
84.268 Federal Direct Student Loans $63,448 Yes 1
84.063 Federal Pell Grant Program $27,582 Yes 0
84.033 Federal Work-Study Program $16,715 Yes 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $943 Yes 0
84.038 Federal Perkins Loan Programs-Loans Issued During the Year $0 Yes 0

Contacts

Name Title Type
RKU6CQHG1DL1 Emiko Yanada Auditee
6505083749 Susan Malone Auditor
No contacts on file

Notes to SEFA

Title: Perkins Loans Accounting Policies: Summary of Significant Accounting Policies:Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditure are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Indirect Costs:Although the U.S. Department of Education provides an Administrative Cost Allowance as a component of the Student Financial Aid programs, there is no indirect cost rate allowed as part of these programs or any other programs listed on the accompanying Schedule of Expenditures of Federal Awards. The outstanding balance at June 30, 2022 on the Perkins Loans was $349,153.
Title: Basis of Presentation: Accounting Policies: Summary of Significant Accounting Policies:Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditure are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: Indirect Costs:Although the U.S. Department of Education provides an Administrative Cost Allowance as a component of the Student Financial Aid programs, there is no indirect cost rate allowed as part of these programs or any other programs listed on the accompanying Schedule of Expenditures of Federal Awards. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal activity of Notre Dame de Namur University and is presented on the accrual basis of accounting. 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.

Finding Details

Finding 2022-002
2022-002 Federal Direct Loan Reconciliations Assistance Listing Number: 84.268 Criteria According to 34 CFR 685.300(b)(5), the University must, on a monthly basis, reconcile institutional records with Direct Loan funds received from the Secretary and Direct Loan disbursement records submitted to and accepted by the Secretary. Condition The University did not perform the monthly reconciliations over direct loans. Context We requested a selection of reconciliations out of the 12 required and were informed that only a year-end reconciliation was performed. Cause The reconciliations were not performed due to the University being short-staffed. Effect Direct loan discrepancies may not have been identified and resolved in a timely manner due to the lack of monthly reconciliations. Questioned Cost There were no questioned costs related to this finding. Recommendation We recommend that the University perform direct loan reconciliations monthly to ensure that discrepancies are properly addressed in a timely manner.
Finding 2022-002
2022-002 Federal Direct Loan Reconciliations Assistance Listing Number: 84.268 Criteria According to 34 CFR 685.300(b)(5), the University must, on a monthly basis, reconcile institutional records with Direct Loan funds received from the Secretary and Direct Loan disbursement records submitted to and accepted by the Secretary. Condition The University did not perform the monthly reconciliations over direct loans. Context We requested a selection of reconciliations out of the 12 required and were informed that only a year-end reconciliation was performed. Cause The reconciliations were not performed due to the University being short-staffed. Effect Direct loan discrepancies may not have been identified and resolved in a timely manner due to the lack of monthly reconciliations. Questioned Cost There were no questioned costs related to this finding. Recommendation We recommend that the University perform direct loan reconciliations monthly to ensure that discrepancies are properly addressed in a timely manner.
Finding 2022-002
2022-002 Federal Direct Loan Reconciliations Assistance Listing Number: 84.268 Criteria According to 34 CFR 685.300(b)(5), the University must, on a monthly basis, reconcile institutional records with Direct Loan funds received from the Secretary and Direct Loan disbursement records submitted to and accepted by the Secretary. Condition The University did not perform the monthly reconciliations over direct loans. Context We requested a selection of reconciliations out of the 12 required and were informed that only a year-end reconciliation was performed. Cause The reconciliations were not performed due to the University being short-staffed. Effect Direct loan discrepancies may not have been identified and resolved in a timely manner due to the lack of monthly reconciliations. Questioned Cost There were no questioned costs related to this finding. Recommendation We recommend that the University perform direct loan reconciliations monthly to ensure that discrepancies are properly addressed in a timely manner.
Finding 2022-001
2022-001 Higher Education Emergency Relief Fund (HEERF) Institutional Portion Assistance Listing Number: 84.425F Criteria According to the Department of Education Higher Education Emergency Relief Fund III Frequently Asked Questions (FAQs) question 26, institutions may discharge student debt or unpaid balances by discharging the complete balance of the debt as lost revenue and reimbursing themselves through their HEERF institutional grants or by providing additional emergency financial grants to students (with their permission). This is available for the institutions for students who were enrolled in an institution at any point on or after March 13, 2020. Condition There was a lack of review procedures that led to not adhering to the HEERF requirements. Context A portion of HEERF institutional grant funds was improperly used to discharge student debt and/or unpaid balances, including debt and/or unpaid balances of students that were enrolled prior to March 13, 2020. Cause Insufficient monitoring of grant rules and regulations. Effect Certain discharged debt was not eligible for reimbursement under the HEERF grant. Questioned Cost There were no questioned costs related to this finding as once the University became aware of the lack of compliance related to certain student?s discharge of debt they provided support for funds to be utilized for purposes of lost revenue which was appropriate under the HEERF regulations and exceeded the amount of the ineligible discharged debt. Recommendation We recommend that the University closely monitor all grant requirements and ensure that there are proper review processes in place to catch any potential noncompliance.
Finding 2022-002
2022-002 Federal Direct Loan Reconciliations Assistance Listing Number: 84.268 Criteria According to 34 CFR 685.300(b)(5), the University must, on a monthly basis, reconcile institutional records with Direct Loan funds received from the Secretary and Direct Loan disbursement records submitted to and accepted by the Secretary. Condition The University did not perform the monthly reconciliations over direct loans. Context We requested a selection of reconciliations out of the 12 required and were informed that only a year-end reconciliation was performed. Cause The reconciliations were not performed due to the University being short-staffed. Effect Direct loan discrepancies may not have been identified and resolved in a timely manner due to the lack of monthly reconciliations. Questioned Cost There were no questioned costs related to this finding. Recommendation We recommend that the University perform direct loan reconciliations monthly to ensure that discrepancies are properly addressed in a timely manner.
Finding 2022-002
2022-002 Federal Direct Loan Reconciliations Assistance Listing Number: 84.268 Criteria According to 34 CFR 685.300(b)(5), the University must, on a monthly basis, reconcile institutional records with Direct Loan funds received from the Secretary and Direct Loan disbursement records submitted to and accepted by the Secretary. Condition The University did not perform the monthly reconciliations over direct loans. Context We requested a selection of reconciliations out of the 12 required and were informed that only a year-end reconciliation was performed. Cause The reconciliations were not performed due to the University being short-staffed. Effect Direct loan discrepancies may not have been identified and resolved in a timely manner due to the lack of monthly reconciliations. Questioned Cost There were no questioned costs related to this finding. Recommendation We recommend that the University perform direct loan reconciliations monthly to ensure that discrepancies are properly addressed in a timely manner.
Finding 2022-002
2022-002 Federal Direct Loan Reconciliations Assistance Listing Number: 84.268 Criteria According to 34 CFR 685.300(b)(5), the University must, on a monthly basis, reconcile institutional records with Direct Loan funds received from the Secretary and Direct Loan disbursement records submitted to and accepted by the Secretary. Condition The University did not perform the monthly reconciliations over direct loans. Context We requested a selection of reconciliations out of the 12 required and were informed that only a year-end reconciliation was performed. Cause The reconciliations were not performed due to the University being short-staffed. Effect Direct loan discrepancies may not have been identified and resolved in a timely manner due to the lack of monthly reconciliations. Questioned Cost There were no questioned costs related to this finding. Recommendation We recommend that the University perform direct loan reconciliations monthly to ensure that discrepancies are properly addressed in a timely manner.
Finding 2022-001
2022-001 Higher Education Emergency Relief Fund (HEERF) Institutional Portion Assistance Listing Number: 84.425F Criteria According to the Department of Education Higher Education Emergency Relief Fund III Frequently Asked Questions (FAQs) question 26, institutions may discharge student debt or unpaid balances by discharging the complete balance of the debt as lost revenue and reimbursing themselves through their HEERF institutional grants or by providing additional emergency financial grants to students (with their permission). This is available for the institutions for students who were enrolled in an institution at any point on or after March 13, 2020. Condition There was a lack of review procedures that led to not adhering to the HEERF requirements. Context A portion of HEERF institutional grant funds was improperly used to discharge student debt and/or unpaid balances, including debt and/or unpaid balances of students that were enrolled prior to March 13, 2020. Cause Insufficient monitoring of grant rules and regulations. Effect Certain discharged debt was not eligible for reimbursement under the HEERF grant. Questioned Cost There were no questioned costs related to this finding as once the University became aware of the lack of compliance related to certain student?s discharge of debt they provided support for funds to be utilized for purposes of lost revenue which was appropriate under the HEERF regulations and exceeded the amount of the ineligible discharged debt. Recommendation We recommend that the University closely monitor all grant requirements and ensure that there are proper review processes in place to catch any potential noncompliance.