FAC Explorer

Audit 42506

FY End
2022-06-30
Total Expended
$35.16M
Findings
2
Programs
11
Organization: Lesley University (MA)
Year: 2022 Accepted: 2022-12-05
Auditor: Mayer Hoffman McCann PC

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
49626 2022-001 Significant Deficiency - E
626068 2022-001 Significant Deficiency - E

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans Program $26.96M Yes 0
84.425 Covid-19 - Higher Education Emergency Relief Fund III - Student Portion $3.16M Yes 0
84.063 Federal Pell Grant Program $2.57M Yes 1
84.038 Federal Perkns Loan Program $1.08M Yes 0
84.365 English Language Parent/teacher Certificate $602,743 - 0
84.007 Federal Supplemental Educational Opportunity Grants $337,230 Yes 0
84.033 Federal Work-Study Program $231,556 Yes 0
84.411 Education Innovation and Research $88,842 - 0
94.433 National Institute of Disability, Independent Living, and Rehabilitation Research $66,714 - 0
47.070 Computer and Information Science and Engineering $61,282 - 0
15.684 White-Nose Syndrome National Response Implementation $2,524 - 0

Contacts

Name Title Type
UJSLXBGQB4B9 Diane Kimball Auditee
6173498505 Michael Burns Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The University has elected to not use the 10-percent de minimis indirect cost rate under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Lesley University (the University) under programs of the federal government for the year ended June 30, 2022. 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 (the 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. The University includes loans granted under the Federal Direct Student Loans Program and Federal Perkins Loan Program as expenditures of federal awards.
Title: Federal Student Loan Program Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The University has elected to not use the 10-percent de minimis indirect cost rate under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The federal student loan program listed is administered directly by the University via a contracted party and balances and transactions relating to this program are included in the Universitys basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2022 consists of: FEDERAL PERKNS LOAN PROGRAM (Assistance Listing Number: 84.038) - Balances outstanding at the end of the audit period were $943,164.
Title: Higher Education Emergency Relief Fund Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The University has elected to not use the 10-percent de minimis indirect cost rate under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The University was awarded funds for student and institutional purposes under the Higher Education Emergency Relief Fund program (HEERF). These funds are administered directly by the University. Amounts expended for the year ended June 30, 2022 for both the student and institutional portion of the program are included in Federal expenditures presented in the Schedule. HEERF activity for the year ended June 30, 2022 is as follows: SEE FINANCIAL STATEMENTS FOR TABLE.

Finding Details

Finding 2022-001
Finding ? Eligibility: Cost of Attendance ? Student Financial Assistance Cluster, Listing #84.063; June 30, 2022 Award year; U.S. Department of Education Criteria or Specific Requirement Eligible students are entitled to receive Pell grants at the rates determined at the beginning of each academic year by the Department of Education. Condition Found Out of forty students selected for testing, nine students were under awarded Pell grants based on their EFC and COA. Pell grants were issued using the rates for the prior academic year. This is not a statistically valid sample. Questioned Costs Known questioned costs $1,312; likely questioned costs of approximately $40,000. Management has estimated based on their own further analysis that the effects of this were under $25,000. Cause The University?s internal systems were not updated for the new Pell award amounts for the 2021-2022 academic year. Identification as a Repeat Finding Not a repeat finding. Recommendation Management should update Pell amounts annually and put controls in place to ensure this update happens annually as required. Management should also perform a full review of prior year Pell awards and provide institutional grants for any students who did not receive their full Pell award. Views of Responsible Officials and Corrective Actions See Corrective Action Plan.
Finding 2022-001
Finding ? Eligibility: Cost of Attendance ? Student Financial Assistance Cluster, Listing #84.063; June 30, 2022 Award year; U.S. Department of Education Criteria or Specific Requirement Eligible students are entitled to receive Pell grants at the rates determined at the beginning of each academic year by the Department of Education. Condition Found Out of forty students selected for testing, nine students were under awarded Pell grants based on their EFC and COA. Pell grants were issued using the rates for the prior academic year. This is not a statistically valid sample. Questioned Costs Known questioned costs $1,312; likely questioned costs of approximately $40,000. Management has estimated based on their own further analysis that the effects of this were under $25,000. Cause The University?s internal systems were not updated for the new Pell award amounts for the 2021-2022 academic year. Identification as a Repeat Finding Not a repeat finding. Recommendation Management should update Pell amounts annually and put controls in place to ensure this update happens annually as required. Management should also perform a full review of prior year Pell awards and provide institutional grants for any students who did not receive their full Pell award. Views of Responsible Officials and Corrective Actions See Corrective Action Plan.