FAC Explorer

Audit 397502

FY End
2025-06-30
Total Expended
$3.91M
Findings
1
Programs
3
Organization: Richmont Graduate University (TN)
Year: 2025 Accepted: 2026-04-02
Auditor: HENDERSON HUTCHERSON & MCCULLOUGH PLLC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1205764 2025-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
84.268 FEDERAL DIRECT STUDENT LOANS $3.59M Yes 1
93.732 MENTAL AND BEHAVIORAL HEALTH EDUCATION AND TRAINING GRANTS $246,261 Yes 0
84.033 FEDERAL WORK-STUDY PROGRAM $82,940 Yes 0

Contacts

Name Title Type
J6PFZKD6UKK3 Ammiah Stafford Auditee
7314784518 Ammiah Stafford Auditor
No contacts on file

Notes to SEFA

The accompanying schedule of expenditures of federal awards includes the federal grant activity of Richmont Graduate 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 Richmont Graduate University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Richmont Graduate University.
Of the expenditures presented in the schedule, Richmont Graduate University did not provide federal or state awards to sub recipients.
Expenditures reported on the schedule are reported on the accrual basis of accounting.
Richmont Graduate University has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The University participates in the Federal Direct Loan Program, including Federal Stafford Loans (Stafford) and Federal PLUS Loans (PLUS). The dollar amounts are listed in the schedule of federal awards although the University is not the recipient of the funds. Such programs are considered a component of the student financial assistance cluster. Loans processed by the University under this loan program were the following for the year ended June 30, 2025:

Finding Details

Finding 2025-001
Assistance Listing Number: 84.268 Federal Award Year: 2024-2025 Federal Agency: Department of Education Federal Award Identification Number: P268K230377 (Direct Loan 2025) Pass-Through Agency: N/A Pass-Through Number(s): N/A Type of Finding: Significant Deficiency over Compliance Category of Finding: Special Tests- Student Enrollment Status Reporting Questioned Costs: $0 Condition: Incorrect or untimely reporting by the University of students’ changes in status during the 2024-2025 award year under audit. Criteria: The Code of Federal Regulations, 34 CFR 682.610, states that institutions must report accurately the enrollment status of all students regardless of whether they receive aid from the institution or not. This includes the enrollment effective date and related enrollment status, which must be reported for both the campus-level and the program-level as well as the program begin date. Cause: Lack of appropriate policy and procedure in place regarding NSLDS enrollment reporting for the year under audit. Context: This condition occurred for 5 out of 25 samples selected for testing. This was reported as a material weakness in the prior year audit. While improvements were made, the University still incorrectly reported student statuses. Effect: Non-compliance with federal regulations which could lead to untimely and incorrect reporting of enrollment information to NSLDS. Repeat Finding: Yes Recommendation: We recommend that the University revisit its corrective action and review their enrollment reporting policies and procedures to ensure accurate reporting. Views of Responsible Officials: There is no disagreement with the audit finding.