Audit 400271

Criteria: The School must return Title IV funds to the Department of Education ("DOE") that have not been disbursed to a student's account no later than 45 days after the date the School determines that a refund is necessary. Condition: As was previously reported in the July 31, 2024 Schedule of Findings and Questioned Costs, the School did not return certain Title IV funds to the DOE within 45 days. Cause: The School did not reconcile the student accounts in a timely manner to ensure the return of certain Title IV funds to the DOE within the 45 day requirement. Effect: Four instances occurred where Title IV funds were not disbursed to the students account, ranging from approximately $1,800 to $6,800. Further, these funds were not returned to the DOE within 45 days. Three of these instances were previously reported in the July 31, 2024 Schedule of Findings and Questioned Costs, and those returns to the DOE were the result of the implementation of the July 31, 2024 Corrective Action Plan. Perspective Information: This issue was noted in four out of forty-seven students selected for testing. Recommendations: In April 2025, these refunds were remitted to the DOE and deemed corrected at that time. We recommend that the School continue to follow their internal control procedures to ensure any Title IV funds that are not disbursed to a student's account are returned to the DOE within 45 days. Views of Responsible Officials and Planned Corrective Actions: The School has corrected the matters identified above and implemented a comprehensive set of corrective actions to strengthen internal controls and ensure any Title IV funds that are not disbursed to a student's account are returned to the DOE within 45 days. Please see attached corrective action plan.