FAC Explorer

Audit 57022

FY End
2022-06-30
Total Expended
$10.36M
Findings
2
Programs
7
Organization: Wisconsin Lutheran College, Inc. (WI)
Year: 2022 Accepted: 2023-03-21
Auditor: Sikich LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
61466 2022-001 - - E
637908 2022-001 - - E

Programs

ALN Program Spent Major Findings
84.268 Federal Direct Student Loans $6.37M Yes 1
84.425 Education Stabilization Fund $1.30M Yes 0
84.063 Federal Pell Grant Program $1.13M Yes 0
20.526 Buses and Bus Facilities Formula, Competitive, and Low Or No Emissions Programs $120,501 - 0
84.033 Federal Work-Study Program $73,404 Yes 0
84.007 Federal Supplemental Educational Opportunity Grants $59,433 Yes 0
84.334 Gaining Early Awareness and Readiness for Undergraduate Programs $1,000 - 0

Contacts

Name Title Type
C7LANLZSGEE1 Diane Hoehnke Auditee
4144438627 Ray Krouse Auditor
No contacts on file

Notes to SEFA

Title: LOAN PROGRAMS Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS ("THE SCHEDULE") INCLUDE FEDERAL AWARD ACTIVITY OF WISCONSIN LUTHERAN COLLEGE, INC. ("THE UNIVERSITY") UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2022. THE INFORMATION IN THIS SCHEDULE 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 COLLEGE, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS OR CASH FLOWS OF THE COLLEGE. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. FOR THE YEAR ENDED JUNE 30, 2022, THE COLLEGE ACTED AS A PASS-THROUGH AGENCY FOR DIRECT FEDERAL STAFFORD LOANS (SUBSIDIZED, UNSUBSIDIZED, AND PLUS) TO STUDENTS AND PARENTS IN THE AMOUNT OF $6,371,593.
Title: OTHER Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS ("THE SCHEDULE") INCLUDE FEDERAL AWARD ACTIVITY OF WISCONSIN LUTHERAN COLLEGE, INC. ("THE UNIVERSITY") UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2022. THE INFORMATION IN THIS SCHEDULE 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 COLLEGE, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS OR CASH FLOWS OF THE COLLEGE. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. THE COLLEGE DID NOT RECEIVE ANY NONCASH FEDERAL AWARDS, NOR RECEIVE ANY FEDERAL INSURANCE AND DID NOT PROVIDE FUNDS TO ANY SUB-RECIPIENTS.

Finding Details

Finding 2022-001
FINDING 2022-001: OVERAWARDED FEDERAL DIRECT LOAN - FEDERAL AGENCY: US DEPARTMENT OF EDUCATION - PROGRAM NAME: FEDERAL DIRECT LOAN PROGRAM - ALN# 84.268 - FEDERAL AWARD YEAR: 2021-2022 - COMPLIANCE REQUIREMENT: ELIGIBILITY (E.) CRITERIA: A STUDENT IS ELIGIBLE TO RECEIVE A DIRECT SUBSIDIZED LOAN, A DIRECT UNSUBSIDIZED LOAN, OR A COMBINATION OF THESE LOANS, IF THE STUDENT IS ENROLLED, OR ACCEPTED FOR ENROLLMENT, ON AT LEAST A HALF TIME BASIS (34 CFR 685.200). CONDITION: WE TESTED FORTY FILES, THIRTY-NINE OF WHICH WERE FEDERAL DIRECT LOAN RECIPIENTS, AND ONE STUDENT WAS INCORRECTLY PACKAGED A DIRECT SUBSIDIZED LOAN FOR HIS FINAL SEMESTER. CAUSE: THE CONDITION WAS CAUSED BY AN OVERSIGHT IN THE FINANCIAL AID DEPARTMENT. EFFECT: THE RESULT IS THE STUDENT WAS ELIGIBLE FOR $2,063 BUT RECEIVED $2,825 IN SUBSIDIZED LOANS. QUESTIONED COSTS: $762. STATISTICAL SAMPLING WAS NOT USED WHEN MAKING SAMPLE SELECTIONS. RECOMMENDATION: WE RECOMMEND THE INSTITUTION RETURN $762 TO THE DEPARTMENT OF EDUCATION AND INCREASE CONTROLS OVER THE PACKAGING OF DIRECT LOANS. VIEWS OF RESPONSIBLE OFFICIALS: THE INSTITUTION AGREES WITH THE SINGLE AUDIT FINDING AND A RESPONSE IS INCLUDED IN THE CORRECTIVE ACTION PLAN. SEE SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR CHART/TABLE.
Finding 2022-001
FINDING 2022-001: OVERAWARDED FEDERAL DIRECT LOAN - FEDERAL AGENCY: US DEPARTMENT OF EDUCATION - PROGRAM NAME: FEDERAL DIRECT LOAN PROGRAM - ALN# 84.268 - FEDERAL AWARD YEAR: 2021-2022 - COMPLIANCE REQUIREMENT: ELIGIBILITY (E.) CRITERIA: A STUDENT IS ELIGIBLE TO RECEIVE A DIRECT SUBSIDIZED LOAN, A DIRECT UNSUBSIDIZED LOAN, OR A COMBINATION OF THESE LOANS, IF THE STUDENT IS ENROLLED, OR ACCEPTED FOR ENROLLMENT, ON AT LEAST A HALF TIME BASIS (34 CFR 685.200). CONDITION: WE TESTED FORTY FILES, THIRTY-NINE OF WHICH WERE FEDERAL DIRECT LOAN RECIPIENTS, AND ONE STUDENT WAS INCORRECTLY PACKAGED A DIRECT SUBSIDIZED LOAN FOR HIS FINAL SEMESTER. CAUSE: THE CONDITION WAS CAUSED BY AN OVERSIGHT IN THE FINANCIAL AID DEPARTMENT. EFFECT: THE RESULT IS THE STUDENT WAS ELIGIBLE FOR $2,063 BUT RECEIVED $2,825 IN SUBSIDIZED LOANS. QUESTIONED COSTS: $762. STATISTICAL SAMPLING WAS NOT USED WHEN MAKING SAMPLE SELECTIONS. RECOMMENDATION: WE RECOMMEND THE INSTITUTION RETURN $762 TO THE DEPARTMENT OF EDUCATION AND INCREASE CONTROLS OVER THE PACKAGING OF DIRECT LOANS. VIEWS OF RESPONSIBLE OFFICIALS: THE INSTITUTION AGREES WITH THE SINGLE AUDIT FINDING AND A RESPONSE IS INCLUDED IN THE CORRECTIVE ACTION PLAN. SEE SCHEDULE OF FINDINGS AND QUESTIONED COSTS FOR CHART/TABLE.