FAC Explorer

Audit 409876

FY End
2026-04-30
Total Expended
$51.98M
Findings
2
Programs
14
Organization: Regis University (CO)
Year: 2026 Accepted: 2026-08-26
Auditor: RUBINBROWN LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
1228041 2026-001 Material Weakness Yes N
1228042 2026-001 Material Weakness Yes N

Programs

ALN Program Spent Major Findings
84.268 FEDERAL DIRECT STUDENT LOANS $42.27M Yes 1
84.063 FEDERAL PELL GRANT PROGRAM $6.23M Yes 1
93.364 NURSING STUDENT LOANS $1.20M Yes 0
84.033 FEDERAL WORK-STUDY PROGRAM $689,037 Yes 0
84.038 FEDERAL PERKINS LOAN PROGRAM_FEDERAL CAPITAL CONTRIBUTIONS $470,660 Yes 0
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $461,678 Yes 0
93.264 NURSE FACULTY LOAN PROGRAM (NFLP) $180,107 Yes 0
84.407 TRANSITION PROGRAMS FOR STUDENTS WITH INTELLECTUAL DISABILITIES INTO HIGHER EDUCATION $106,299 Yes 0
47.049 MATHEMATICAL AND PHYSICAL SCIENCES $86,742 Yes 0
21.027 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS $73,027 Yes 0
84.379 TEACHER EDUCATION ASSISTANCE FOR COLLEGE AND HIGHER EDUCATION GRANTS (TEACH GRANTS) $54,694 Yes 0
93.865 CHILD HEALTH AND HUMAN DEVELOPMENT EXTRAMURAL RESEARCH $30,300 Yes 0
47.076 STEM EDUCATION (FORMERLY EDUCATION AND HUMAN RESOURCES) $15,837 Yes 0
43.008 SPACE GRANT / EDUCATION $4,701 Yes 0

Contacts

Name Title Type
HTREMNKMB9E7 Brook Thompson Auditee
3039645442 Brent Stevens Auditor
No contacts on file

Notes to SEFA

Federal financial assistance revenues from the Federal Work Study, the Federal Pell Grant Program and the Federal Supplemental Educational Opportunity Grant programs are reported in the University’s consolidated financial statements as revenues. The activity of the Federal Direct Loan Program is not included in the University’s consolidated financial statements, as the benefits of this program are awarded directly to students and not to the University. Amounts reported in the accompanying Schedule are presented using the accrual basis of accounting, which is described in Note 2 to the University’s consolidated financial statements. Related federal financial reports are prepared on the cash basis of accounting.
The University is responsible for the performance of certain administrative duties with respect to the Federal Direct Loan Program, and accordingly, it is not practical to determine the amount of loans outstanding to current and former students under these programs at April 30, 2026. Total Perkins, Nurshing Student and Nursing Faculty loans outatnsing at April 30, 2026 amount to $1,415,031.

Finding Details

Finding 2026-001
Finding 2026-001 - Significant Deficiency: Special Tests and Provisions - Compliance and Control Finding ALN 84.063 - Federal Pell Grant Program and 84.268 - Federal Direct Student Loan Program - Student Financial Aid Cluster Federal Agency: Department of Education Pass-Through Entity: None Criteria Or Specific Requirement: Per 34 CFR 682.610 (and further clarified in the February 2026 National Student Loan Data System (NSLDS) Enrollment Reporting Guide), a University is required to certify changes in enrollment data for students within 60 days of the change. Universities are responsible for accurately reporting certain key information, such as the OPEID number, enrollment effective date, enrollment status, graduation status and certification date. Condition: The University has established several processes and procedures to ensure that enrollment reporting occurs on a timely basis. These processes and procedures rely on an internal reporting mechanism that assesses a multitude of factors, including the end date on programs with a future term. The end date on programs is a key data point to ensure that enrollment reporting is occurring in a timely manner. Cause: The process and related internal controls surrounding enrollment reporting related to degree verification through the National Student Clearinghouse (NSC) were not designed to ensure timely certification of enrollment reporting changes for graduation statuses, within the 60-day requirement period to NSLDS. Effect: The University’s controls may not prevent potential errors related to timely certification of enrollment reporting. Questioned Costs: Not applicable. Context: Our audit sample of 40 students, we noted 5 students that were updated in NSLDS outside of the 60-day requirement period. Identification As A Repeat Finding: 2024-002, 2025-001. Recommendation: The University should revise the process and internal controls surrounding enrollment reporting to ensure that all enrollment reporting status changes are certified to NSC and thereby NSLDS within the 60-day requirement period. Views Of Responsible Officials: The University acknowledges that the enrollment reporting controls need to be enhanced to ensure timely submission to NSLDS.