FAC Explorer

Audit 51897

FY End
2022-06-30
Total Expended
$18.29M
Findings
6
Programs
9
Organization: Naropa University (CO)
Year: 2022 Accepted: 2023-09-28
Auditor: Eide Bailly LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
46489 2022-002 Significant Deficiency Yes I
46490 2022-002 Significant Deficiency Yes I
46491 2022-002 Significant Deficiency Yes I
622931 2022-002 Significant Deficiency Yes I
622932 2022-002 Significant Deficiency Yes I
622933 2022-002 Significant Deficiency Yes I

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loan Program $15.52M Yes 0
84.063 Federal Pell Grant Program $940,909 Yes 0
84.031 Title III Grant $529,723 - 0
84.425 Covid-19 Higher Education Emergency Relief Fund - Student $405,411 - 1
84.038 Federal Perkins Loan Program $399,421 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $136,882 Yes 0
84.425 Covid-19 Higher Education Emergency Relief Funds - Institutional $126,493 - 1
84.425 Covid-19 Strenthening Institutions Program (sip) $121,581 - 1
84.033 Federal Work-Study Program $110,360 Yes 0

Contacts

Name Title Type
FVZFESMBNVL4 Spencer Conroy Auditee
2817269045 Kristin Diggs Auditor
No contacts on file

Notes to SEFA

Title: Note 4 - Federal Student Loan Programs Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Naropa University (the University) under programs of the federal government for the year ended June 30, 2022. The information 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). 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. Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate as allowable, under the Uniform Guidance The federal student loan programs listed subsequently are administered directly by the University and balances and transactions relating to these programs are included in the University's basic financial statements. The balance of loans outstanding at June 30, 2022 consists of:84.038 - Perkins Loan Program - Outstanding Balance at June 30, 2022 - $284,532
Title: Note 5 - Adjustments and Transfers Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Naropa University (the University) under programs of the federal government for the year ended June 30, 2022. The information 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). 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. Expenditures reported in the schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate as allowable, under the Uniform Guidance As allowable and in accordance with federal regulations issued by the U.S. Department of Education during the year ended June 30, 2022, the University transferred $98,953 of Federal Work-Study (FWS) Program (ALN No. 84.033) award funds to the Federal Supplemental Educational Opportunity Grants (SEOG) Program (ALN No. 84.007).

Finding Details

Finding 2022-002
2022-002 U.S. Department of Education Financial Assistance Listing No. 84.425E, 84.425F, and 84.425M COVID-19 ? Higher Education Emergency Relief Funds ? Student, COVID-19 ? Higher Education Emergency Relief Funds ? Institutional, and COVID-19 ? Strengthening Institutions Program Procurement, Suspension, and Debarment Significant Deficiency in Internal Control Criteria: Entities expending federal monies are required to have a written procurement policy that is compliance with Uniform Guidance, 2 CFR Section 200.318-327. Condition: While the University does have a written compliance policy, elements that are required by Uniform Guidance, 2 CFR Section 200.318-327, are missing from the written policy. Cause: The University previously had not received federal awards, other than Student Financial Assistance monies. As a result, they did not have a written procurement policy in place. Management worked on creating a policy in the prior fiscal year, however the policy does not include all the required elements. Effect: The University?s written procurement policy is not compliant with Uniform Guidance, 2 CFR Section 200.318-327. Questioned Costs: None. Context/Sampling: HEERF was not selected as a major program in the current year, as such no sampling occurred. The Auditor obtained a copy of the newly written procurement policy to test the policy?s compliance with Uniform Guidance. Repeat Finding from Prior Year(s): Yes, finding 2021-003 Recommendation: Management should review their procurement policy in combination with the language of Uniform Guidance, 2 CFR Section 200.318-327, to ensure the required elements from the guidance are included in the written procurement policy. Views of Responsible Officials: Management agrees with the finding.
Finding 2022-002
2022-002 U.S. Department of Education Financial Assistance Listing No. 84.425E, 84.425F, and 84.425M COVID-19 ? Higher Education Emergency Relief Funds ? Student, COVID-19 ? Higher Education Emergency Relief Funds ? Institutional, and COVID-19 ? Strengthening Institutions Program Procurement, Suspension, and Debarment Significant Deficiency in Internal Control Criteria: Entities expending federal monies are required to have a written procurement policy that is compliance with Uniform Guidance, 2 CFR Section 200.318-327. Condition: While the University does have a written compliance policy, elements that are required by Uniform Guidance, 2 CFR Section 200.318-327, are missing from the written policy. Cause: The University previously had not received federal awards, other than Student Financial Assistance monies. As a result, they did not have a written procurement policy in place. Management worked on creating a policy in the prior fiscal year, however the policy does not include all the required elements. Effect: The University?s written procurement policy is not compliant with Uniform Guidance, 2 CFR Section 200.318-327. Questioned Costs: None. Context/Sampling: HEERF was not selected as a major program in the current year, as such no sampling occurred. The Auditor obtained a copy of the newly written procurement policy to test the policy?s compliance with Uniform Guidance. Repeat Finding from Prior Year(s): Yes, finding 2021-003 Recommendation: Management should review their procurement policy in combination with the language of Uniform Guidance, 2 CFR Section 200.318-327, to ensure the required elements from the guidance are included in the written procurement policy. Views of Responsible Officials: Management agrees with the finding.
Finding 2022-002
2022-002 U.S. Department of Education Financial Assistance Listing No. 84.425E, 84.425F, and 84.425M COVID-19 ? Higher Education Emergency Relief Funds ? Student, COVID-19 ? Higher Education Emergency Relief Funds ? Institutional, and COVID-19 ? Strengthening Institutions Program Procurement, Suspension, and Debarment Significant Deficiency in Internal Control Criteria: Entities expending federal monies are required to have a written procurement policy that is compliance with Uniform Guidance, 2 CFR Section 200.318-327. Condition: While the University does have a written compliance policy, elements that are required by Uniform Guidance, 2 CFR Section 200.318-327, are missing from the written policy. Cause: The University previously had not received federal awards, other than Student Financial Assistance monies. As a result, they did not have a written procurement policy in place. Management worked on creating a policy in the prior fiscal year, however the policy does not include all the required elements. Effect: The University?s written procurement policy is not compliant with Uniform Guidance, 2 CFR Section 200.318-327. Questioned Costs: None. Context/Sampling: HEERF was not selected as a major program in the current year, as such no sampling occurred. The Auditor obtained a copy of the newly written procurement policy to test the policy?s compliance with Uniform Guidance. Repeat Finding from Prior Year(s): Yes, finding 2021-003 Recommendation: Management should review their procurement policy in combination with the language of Uniform Guidance, 2 CFR Section 200.318-327, to ensure the required elements from the guidance are included in the written procurement policy. Views of Responsible Officials: Management agrees with the finding.
Finding 2022-002
2022-002 U.S. Department of Education Financial Assistance Listing No. 84.425E, 84.425F, and 84.425M COVID-19 ? Higher Education Emergency Relief Funds ? Student, COVID-19 ? Higher Education Emergency Relief Funds ? Institutional, and COVID-19 ? Strengthening Institutions Program Procurement, Suspension, and Debarment Significant Deficiency in Internal Control Criteria: Entities expending federal monies are required to have a written procurement policy that is compliance with Uniform Guidance, 2 CFR Section 200.318-327. Condition: While the University does have a written compliance policy, elements that are required by Uniform Guidance, 2 CFR Section 200.318-327, are missing from the written policy. Cause: The University previously had not received federal awards, other than Student Financial Assistance monies. As a result, they did not have a written procurement policy in place. Management worked on creating a policy in the prior fiscal year, however the policy does not include all the required elements. Effect: The University?s written procurement policy is not compliant with Uniform Guidance, 2 CFR Section 200.318-327. Questioned Costs: None. Context/Sampling: HEERF was not selected as a major program in the current year, as such no sampling occurred. The Auditor obtained a copy of the newly written procurement policy to test the policy?s compliance with Uniform Guidance. Repeat Finding from Prior Year(s): Yes, finding 2021-003 Recommendation: Management should review their procurement policy in combination with the language of Uniform Guidance, 2 CFR Section 200.318-327, to ensure the required elements from the guidance are included in the written procurement policy. Views of Responsible Officials: Management agrees with the finding.
Finding 2022-002
2022-002 U.S. Department of Education Financial Assistance Listing No. 84.425E, 84.425F, and 84.425M COVID-19 ? Higher Education Emergency Relief Funds ? Student, COVID-19 ? Higher Education Emergency Relief Funds ? Institutional, and COVID-19 ? Strengthening Institutions Program Procurement, Suspension, and Debarment Significant Deficiency in Internal Control Criteria: Entities expending federal monies are required to have a written procurement policy that is compliance with Uniform Guidance, 2 CFR Section 200.318-327. Condition: While the University does have a written compliance policy, elements that are required by Uniform Guidance, 2 CFR Section 200.318-327, are missing from the written policy. Cause: The University previously had not received federal awards, other than Student Financial Assistance monies. As a result, they did not have a written procurement policy in place. Management worked on creating a policy in the prior fiscal year, however the policy does not include all the required elements. Effect: The University?s written procurement policy is not compliant with Uniform Guidance, 2 CFR Section 200.318-327. Questioned Costs: None. Context/Sampling: HEERF was not selected as a major program in the current year, as such no sampling occurred. The Auditor obtained a copy of the newly written procurement policy to test the policy?s compliance with Uniform Guidance. Repeat Finding from Prior Year(s): Yes, finding 2021-003 Recommendation: Management should review their procurement policy in combination with the language of Uniform Guidance, 2 CFR Section 200.318-327, to ensure the required elements from the guidance are included in the written procurement policy. Views of Responsible Officials: Management agrees with the finding.
Finding 2022-002
2022-002 U.S. Department of Education Financial Assistance Listing No. 84.425E, 84.425F, and 84.425M COVID-19 ? Higher Education Emergency Relief Funds ? Student, COVID-19 ? Higher Education Emergency Relief Funds ? Institutional, and COVID-19 ? Strengthening Institutions Program Procurement, Suspension, and Debarment Significant Deficiency in Internal Control Criteria: Entities expending federal monies are required to have a written procurement policy that is compliance with Uniform Guidance, 2 CFR Section 200.318-327. Condition: While the University does have a written compliance policy, elements that are required by Uniform Guidance, 2 CFR Section 200.318-327, are missing from the written policy. Cause: The University previously had not received federal awards, other than Student Financial Assistance monies. As a result, they did not have a written procurement policy in place. Management worked on creating a policy in the prior fiscal year, however the policy does not include all the required elements. Effect: The University?s written procurement policy is not compliant with Uniform Guidance, 2 CFR Section 200.318-327. Questioned Costs: None. Context/Sampling: HEERF was not selected as a major program in the current year, as such no sampling occurred. The Auditor obtained a copy of the newly written procurement policy to test the policy?s compliance with Uniform Guidance. Repeat Finding from Prior Year(s): Yes, finding 2021-003 Recommendation: Management should review their procurement policy in combination with the language of Uniform Guidance, 2 CFR Section 200.318-327, to ensure the required elements from the guidance are included in the written procurement policy. Views of Responsible Officials: Management agrees with the finding.