FAC Explorer

Audit 443

FY End
2022-06-30
Total Expended
$3.79M
Findings
4
Programs
4
Organization: Valor Christian College (OH)
Year: 2022 Accepted: 2023-10-10
Auditor: Sikich LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
218 2022-001 Material Weakness - A
219 2022-002 Material Weakness - I
576660 2022-001 Material Weakness - A
576661 2022-002 Material Weakness - I

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $1.89M Yes 0
84.063 Federal Pell Grant Program $949,978 Yes 0
84.425 Covid-19 Education Stabilization Fund $163,865 Yes 2
21.019 Covid-19 Coronavirus Relief Fund $153,620 - 0

Contacts

Name Title Type
JZ64U6ZQ9RX8 Joe Dilgard Auditee
8009409422 Ray Krouse Auditor
No contacts on file

Notes to SEFA

Title: FEDERAL LOAN PROGRAM Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Valor Christian College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended June 30, 2022, Valor Christian College acted as a pass-through agency for Direct Federal Stafford Loans (subsidized, unsubsidized and PLUS) to students and parents in the amount of $1,887,203.
Title: OTHER INFORMATION Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: Valor Christian College has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Valor Christian College did not receive any federal insurance or federal noncash assistance and did not provide any amounts to sub-recipients.

Finding Details

Finding 2022-001
UNALLOWABLE QUESTIONED COSTS FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HEERF ALN: 84.425 FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Activities Allowed and Unallowed (A.) Criteria: An Institution must demonstrate that costs incurred are allowable under the relevant statutory provisions. Allowable costs must be necessary and reasonable for the performance of the federal award and be allocable thereto under the principles in 2 C.F.R. part 200, subpart E. Condition: The Institution charged unallowable costs to the Institution portion of the grant. We consider this finding to be a material weakness. Cause: The condition was caused by administrative oversight. Effect or Potential Effect: The result is that the Institution expended unallowable costs. Statistical sampling was not used when making sample selections. Questioned Costs : $73,594 Recommendation: We recommend the Institution strengthen its internal controls around the allowable costs. Views of Responsible Officials: The College agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.
Finding 2022-002
INSUFFICIENT PROCUREMENT POLICY FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HEERF ALN: 84.425 FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Procurement and Suspension and Debarment (I.) Criteria: An Institution must have procurement policies that comply with the compliance requirements included in 2 C.F.R. 200.318 through 200.326. Condition: The Institution failed to implement all of the required procurement policies noted above. We consider this finding to be a material weakness. Statistical sampling was not used when making sample selections. Cause: The condition was caused by administrative oversight. Effect or Potential Effect: The result is that the Institution could be expending funds that do not meet the compliance requirements included in 2 C.F.R. 200.318 through 200.326. Recommendation: We recommend the Institution develop and implement the required procurement policies. Views of Responsible Officials: The College agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.
Finding 2022-001
UNALLOWABLE QUESTIONED COSTS FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HEERF ALN: 84.425 FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Activities Allowed and Unallowed (A.) Criteria: An Institution must demonstrate that costs incurred are allowable under the relevant statutory provisions. Allowable costs must be necessary and reasonable for the performance of the federal award and be allocable thereto under the principles in 2 C.F.R. part 200, subpart E. Condition: The Institution charged unallowable costs to the Institution portion of the grant. We consider this finding to be a material weakness. Cause: The condition was caused by administrative oversight. Effect or Potential Effect: The result is that the Institution expended unallowable costs. Statistical sampling was not used when making sample selections. Questioned Costs : $73,594 Recommendation: We recommend the Institution strengthen its internal controls around the allowable costs. Views of Responsible Officials: The College agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.
Finding 2022-002
INSUFFICIENT PROCUREMENT POLICY FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: HEERF ALN: 84.425 FEDERAL AWARD YEAR: 2021-2022 Compliance Requirement: Procurement and Suspension and Debarment (I.) Criteria: An Institution must have procurement policies that comply with the compliance requirements included in 2 C.F.R. 200.318 through 200.326. Condition: The Institution failed to implement all of the required procurement policies noted above. We consider this finding to be a material weakness. Statistical sampling was not used when making sample selections. Cause: The condition was caused by administrative oversight. Effect or Potential Effect: The result is that the Institution could be expending funds that do not meet the compliance requirements included in 2 C.F.R. 200.318 through 200.326. Recommendation: We recommend the Institution develop and implement the required procurement policies. Views of Responsible Officials: The College agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.