Audit 43337

FY End
2022-06-30
Total Expended
$22.52M
Findings
16
Programs
8
Organization: Delaware Valley University (PA)
Year: 2022 Accepted: 2023-03-30
Auditor: Bdo USA LLP

Organization Exclusion Status:

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Contacts

Name Title Type
P6SJUK2WBLK1 Jane Wang Auditee
2154892551 La Shaun King Auditor
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Notes to SEFA

Title: Basis of Presentation Accounting Policies: The accompanying Schedule includes the federal grant transactions of the University recorded 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. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance. The accompanying schedule of expenditures of federal awards (the 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) for the year ended June 30, 2022. The Schedule presents only a selected portion of the activities of the Delaware Valley University (the University). It is not intended to and does not present either the financial position, changes in activities, or cash flows of the University. In certain programs, the expenditures reported in the financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitations which are not reported as expenditures in the schedule of expenditures of federal awards.All of the Universitys federal awards were in the form of cash assistance for the year ended June 30, 2022.
Title: Federal Student Loan Program Accounting Policies: The accompanying Schedule includes the federal grant transactions of the University recorded 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. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance. The total loans granted under the Federal Direct Loan Program (ALN: 84.268), which were not made by the University but were received by its students, were $14,956,354 for the year ended June 30, 2022. The University administers the Federal Perkins Loan Program (Perkins Loans) and balances and transactions relating to this program are included in the University's financial statements. The total loans outstanding under the Federal Perkins Loan Program (ALN 84.038) at June 30, 2022 were $1,083,059. There were no Perkins Loans disbursed to students during the year ended June 30, 2022.
Title: Cotingency Accounting Policies: The accompanying Schedule includes the federal grant transactions of the University recorded 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. De Minimis Rate Used: N Rate Explanation: The University has elected not to use the 10 percent de minimus indirect cost rate allowed under Uniform Guidance. The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the University. In the opinion of management, and with the exception of certain findings presented in the accompanying schedule of findings and questioned costs, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.

Finding Details

Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Special Tests and Provisions ?Disbursements To or On Behalf of Students - If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (?NSLDS?) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR section 668.19). Condition: During the year, a student who transferred to the University was disbursed Title IV aid prior to the required 7 day waiting period per NSLDS transfer monitoring guidelines. Cause: Insufficient administrative oversight with respect to disbursement of federal aid to students and transfer monitoring requirements. Effect: The University is not in compliance with federal regulations over disbursing federal funds. Questioned Costs: None. Context: For 1 of 4 students who transferred to the University during the year, the University did not wait at least 7 days after adding the student to the NSLDS alert list before disbursing Title IV funds. Identification of Repeat Finding: No similar findings noted in the prior year. Recommendation: We recommend that the University implement policies to ensure the University waits at least 7 days after adding students to the NSLDS alert list before disbursing Title IV funds as required.
Federal Program: Student Financial Assistance Cluster (ALN: Various) Criteria or Specific Requirement (Including Statutory, Regulatory or Other Citation): N. Enrollment Reporting - The University is required to update students? statuses on the National Student Loans Data System (?NSLDS?) website if they graduate, withdraw or drop to less than half-time status during the fiscal year within 60 days of the date the University becomes aware of the change in enrollment status. Additionally, institutions are responsible for timely reporting, whether they report directly or via a third-party servicer. As with any school/servicer arrangement for the administration of the Title IV programs, if the school uses a third party to meet the NSLDS enrollment reporting requirements it is the school that must ensure that enrollment information is submitted timely, accurately, and completely. Condition: The University did not submit an accurate status change notification or failed to submit timely notification to the NSLDS website for certain students who graduated, withdrew or had a change in their enrollment status (full time, half time or less than half time) during the year. Cause: Insufficient administrative oversight with respect to enrollment reporting compliance requirements. Effect or Potential Effect: The University is not in compliance with enrollment reporting compliance requirements. Questioned Costs: None. Context: We noted the following exceptions as a result of our procedures: ? For 3 of 40 students sampled whose status changed during the fiscal year, the University failed to report an accurate enrollment status. ? For 3 of 40 students sampled whose status changed during the fiscal year, he University failed to submit a timely notification to the NSLDS website. Identification as a Repeat Finding: This is a repeat finding from prior year. This was reported as Finding 2021-003 in the prior year schedule of findings and questioned costs. Recommendation: We recommend that the University properly follow its policies and procedures over the applicable compliance requirements of the enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe.