FAC Explorer

Audit 49718

FY End
2022-06-30
Total Expended
$30.36M
Findings
2
Programs
6
Organization: Mary Baldwin University (VA)
Year: 2022 Accepted: 2023-03-28
Auditor: Brown Edwards

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
50019 2022-001 Significant Deficiency - N
626461 2022-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $22.76M Yes 1
84.063 Federal Pell Grant Program $4.07M Yes 0
84.425 Education Stabilization Fund $1.42M Yes 0
84.033 Federal Work-Study Program $253,371 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $171,421 Yes 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $49,506 Yes 0

Contacts

Name Title Type
TGPTYAJJ7739 Tim Stutzman Auditee
5408877361 John Hash Auditor
No contacts on file

Notes to SEFA

Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the University and is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures for federal student financial aid programs are recognized as incurred and include the federal share of students FSEOG program grants and FWS program earnings and certain other federal financial aid for students and administrative cost allowances, where applicable. Federal Pell Grant and Teacher Education Assistance for University and Higher Education awards are recognized as agency transactions and are not recorded as expenditures in the basic financial statements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.

Finding Details

Finding 2022-001
Returns of Title IV funds are required to be deposited or transferred into the SFA account or electronic fund transfers initiated to the Department of Education as soon as possible, but no later than 45 days after the date the institution determines that the student withdrew in accordance with 34 CFR Section 668.173(b)
Finding 2022-001
Returns of Title IV funds are required to be deposited or transferred into the SFA account or electronic fund transfers initiated to the Department of Education as soon as possible, but no later than 45 days after the date the institution determines that the student withdrew in accordance with 34 CFR Section 668.173(b)