FAC Explorer

Audit 55269

FY End
2022-05-31
Total Expended
$29.06M
Findings
2
Programs
12
Organization: University of St. Francis (IL)
Year: 2022 Accepted: 2022-10-24
Auditor: Sikich LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
59911 2022-001 Significant Deficiency - N
636353 2022-001 Significant Deficiency - N

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $18.15M Yes 1
84.063 Federal Pell Grant Program $2.97M Yes 0
84.038 Federal Perkins Loan Program $847,895 Yes 0
93.247 Hrsa $315,674 - 0
84.425 Covid-19 Education Stabilization Fund $225,276 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $216,822 Yes 0
84.033 Federal Work-Study Program $157,020 Yes 0
47.076 National Science Foundation -Sstem $107,272 - 0
47.076 National Science Foundation - Noyce $105,810 - 0
84.379 Teacher Education Assistance for College and Higher Education Grants (teach Grants) $49,978 Yes 0
93.264 Nflp $37,747 - 0
16.525 Grants to Reduce Domestic Violence, Dating Violence, Sexual Assault, and Stalking on Campus $14,624 - 0

Contacts

Name Title Type
MJ1CKVL4UL15 Julee Gard Auditee
8157403371 Ray Krouse Auditor
No contacts on file

Notes to SEFA

Title: LOAN PROGRAMS Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal awards activity of the University of St. Francis (the University) presented on the accrual basis of accounting for the year ended May 31, 2022 and is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The University had the following loan balances outstanding at May 31, 2022:Cluster/Program Title Federal Perkins Loans Program Assistance Listing Number 84.038 Amount $ 797,895.As of May 31, 2021, the University had loans outstanding under the Federal Perkins Loans Program totaling $952,637. During the year ended May 31, 2021, the University awarded new loans to students totaling $0 and recorded an administrative cost allowance of $50,000. During the year ended May 31, 2022, students and their parents were awarded $18,147,683 of federally guaranteed loans under the Federal Direct Student Loans program. The University is responsible only for the performance of certain administrative duties with respect to the federally guaranteed student loan programs and, accordingly, balances and transactions relating to the Federal Direct Student Loan program are not included in the University's basic financial statements. Therefore, it is not practical to determine the balances of the loans outstanding to students or former students of the University at May 31, 2022.
Title: SUBRECIPIENTS Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal awards activity of the University of St. Francis (the University) presented on the accrual basis of accounting for the year ended May 31, 2022 and is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The University provided no federal awards to subrecipients during the year ended May 31, 2022.
Title: OTHER Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal awards activity of the University of St. Francis (the University) presented on the accrual basis of accounting for the year ended May 31, 2022 and is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The University did not receive any federal non-cash contributions or have any federal insurance in effect during the year ended May 31, 2022.

Finding Details

Finding 2022-001
2022-001: Errors Relating to Return of Title IV Financial Aid - Student Financial Aid Cluster Assistance Listing Number 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 Grant Period - Year Ended May 31, 2022 Criteria: According to 34 CFR 668.22 when a recipient of Title IV grant or loan assistance withdraws from a College during a payment period or period of enrollment in which the recipient began attendance, the College must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date. Condition: During our return of Title IV Fund testing we noted that the College did not calculate or return Title IV for students who ceased attendance correctly for three students out of ten. The College used the incorrect number of days for the total days in the period of enrollment when calculating the return of Title IV. We consider this to be a significant deficiency relating to the Special Tests and Provisions Compliance Requirement. Statistical sampling was not used when making sample selections. See Schedule of Findings and Questioned Costs for chart/table. Questioned Costs : $0 Effect: The College did not properly calculate the return of Title IV for three students out of ten. Cause: The College's internal controls did not identify the fact that the incorrect number. Recommendation: We recommend the College monitor and update their system used for return of Title IV calculations with the correct dates. Views of Responsible Officials: Management agrees with this finding and response is included in Corrective Action Plan. of days the student attended when calculating the return of Title IV.
Finding 2022-001
2022-001: Errors Relating to Return of Title IV Financial Aid - Student Financial Aid Cluster Assistance Listing Number 84.007, 84.033, 84.038, 84.063, 84.268, 84.379 Grant Period - Year Ended May 31, 2022 Criteria: According to 34 CFR 668.22 when a recipient of Title IV grant or loan assistance withdraws from a College during a payment period or period of enrollment in which the recipient began attendance, the College must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date. Condition: During our return of Title IV Fund testing we noted that the College did not calculate or return Title IV for students who ceased attendance correctly for three students out of ten. The College used the incorrect number of days for the total days in the period of enrollment when calculating the return of Title IV. We consider this to be a significant deficiency relating to the Special Tests and Provisions Compliance Requirement. Statistical sampling was not used when making sample selections. See Schedule of Findings and Questioned Costs for chart/table. Questioned Costs : $0 Effect: The College did not properly calculate the return of Title IV for three students out of ten. Cause: The College's internal controls did not identify the fact that the incorrect number. Recommendation: We recommend the College monitor and update their system used for return of Title IV calculations with the correct dates. Views of Responsible Officials: Management agrees with this finding and response is included in Corrective Action Plan. of days the student attended when calculating the return of Title IV.