FAC Explorer

Audit 46440

FY End
2022-09-30
Total Expended
$124.22M
Findings
0
Programs
46
Organization: Troy University (AL)
Year: 2022 Accepted: 2023-05-18
Auditor: Examiners of Public Accounts

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $73.26M Yes 0
84.063 Federal Pell Grant Program $22.66M Yes 0
11.609 Measurement and Engineering Research and Standards $1.91M Yes 0
84.042 Trio_student Support Services $711,661 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $707,285 Yes 0
84.031 Higher Education_institutional Aid $698,002 Yes 0
84.129 Rehabilitation Long-Term Training $609,511 - 0
93.434 Every Student Succeeds Act/preschool Development Grants $525,652 - 0
84.047 Trio_upward Bound $452,599 Yes 0
84.425 Education Stabilization Fund $345,600 Yes 0
84.033 Federal Work-Study Program $340,445 Yes 0
84.335 Child Care Access Means Parents in School $298,732 Yes 0
84.038 Federal Perkins Loan Program - Federal Capital Contribution $253,112 Yes 0
17.258 Wia Adult Program $223,761 - 0
84.217 Trio_mcnair Post-Baccalaureate Achievement $200,365 Yes 0
94.002 Retired and Senior Volunteer Program $157,471 - 0
84.027 Special Education_grants to States $130,944 - 0
59.075 Shuttered Venue Operators Grant Program $127,424 - 0
93.643 Children's Justice Grants to States $124,020 - 0
93.264 Nurse Faculty Loan Program (nflp) $105,754 Yes 0
84.287 Twenty-First Century Community Learning Centers $92,783 - 0
93.391 Activities to Support State, Tribal, Local and Territorial (stlt) Health Department Response to Public Health Or Healthcare Crises $90,149 - 0
84.367 Improving Teacher Quality State Grants $89,271 - 0
47.076 Education and Human Resources $57,977 Yes 0
47.041 Engineering $55,789 Yes 0
11.473 Office for Coastal Management $55,069 Yes 0
59.037 Small Business Development Centers $50,416 - 0
84.126 Rehabilitation Services_vocational Rehabilitation Grants to States $41,520 Yes 0
10.912 Environmental Quality Incentives Program $38,558 - 0
10.215 Sustainable Agriculture Research and Education $37,490 Yes 0
19.009 Academic Exchange Programs - Undergraduate Programs $35,649 - 0
66.951 Environmental Education Grants $32,466 - 0
10.558 Child and Adult Care Food Program $28,594 - 0
15.615 Cooperative Endangered Species Conservation Fund $20,355 Yes 0
45.309 Museum Grants for African American History and Culture $18,371 - 0
84.177 Rehabilitation Services_independent Living Services for Older Individuals Who Are Blind $18,030 - 0
17.259 Wia Youth Activities $13,192 - 0
10.707 Research Joint Venture and Cost Reimbursable Agreements $12,574 Yes 0
66.130 Gulf Coast Ecosystem Restoration Council Comprehensive Plan Component $12,227 Yes 0
47.049 Mathematical and Physical Sciences $7,616 - 0
66.461 Regional Wetland Program Development Grants $5,226 Yes 0
45.129 Promotion of the Humanities_federal/state Partnership $3,207 - 0
45.025 Promotion of the Arts_partnership Agreements $2,500 - 0
47.074 Biological Sciences $1,876 Yes 0
15.608 Fish and Wildlife Management Assistance $1,247 Yes 0
66.419 Water Pollution Control State, Interstate, and Tribal Program Support $1,000 - 0

Contacts

Name Title Type
NWQTQ4Q91NW5 Dr. Jim Bookout Auditee
3346703108 Melissa Knepper Auditor
No contacts on file

Notes to SEFA

Title: Federal Perkins Loan Program-Federal Capital Contributions 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. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The Federal Perkins Loan Program is administered directly by the University. For purposes of the schedule, the amount reported includes the outstanding loan balance at the beginning of the fiscal year. The University began the Perkins liquidation process in fiscal year 2018. The University did not disburse any funds under this program during the current award year. Remaining loans were assigned or repurchased, and the University has completed the liquidation process.Outstanding loan balance at September 30, 2021 $ 253,113Outstanding loan balance at September 30, 2022 0 The following represents the reconciliation of number of total borrowers in the Perkins loan portfolio:Total number of loans fully retired including repurchased 6597 Total number of loans repurchased by the institution 57Total number of loans assigned to the Department of Education 1096Total number of borrowers in the portfolio 7750The following calculations represent the net federal capital contribution (FCC) and the net institutional capital contribution (ICC) used to calculate the final capital distribution.FCC $ 2,807,210Repayment of fund capital to the federal government (584,489)Net FCC $ 2,222,721ICC $ 312,042Repayment of fund capital to the University (46,010)Net ICC $ 266,032Cash in Perkins bank account at September 30, 2021 $ 629Overall cash on hand at September 30, 2022 $ 0The University made a final return of capital of $19,443 back to the Department of Education in May 2022. The net FCC and ICC above reflect the final repayment and the overall Perkins cash on hand at September 30, 2022 is $0.