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Corrective Action Plans

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Finding 34600 (2022-001)
Significant Deficiency 2022
University of Tulsa
OK
Questioned Costs Student Financial Aid Special Tests & Provisions
Corrective Action Plan The University of Tulsa Student Financial Services External Audit: Academic Year 21/22 During the spring 2022 semester, The University of Tulsa closed for a 5-day period due to inclement weather. The Return of Title IV (R2T4) calculations that were conducted adjusted total...
Corrective Action Plan The University of Tulsa Student Financial Services External Audit: Academic Year 21/22 During the spring 2022 semester, The University of Tulsa closed for a 5-day period due to inclement weather. The Return of Title IV (R2T4) calculations that were conducted adjusted total number of days in the semester; but did not adjust total days attended on the R2T4 calculations. The University of Tulsa reviewed all R2T4 calculations for spring 2022 with a withdraw date of February 2 or after. 11 recalculations were required, funds are being returned to the Department of Education. For future semesters, the formula for breaks will be hard coded into the COD R2T4 formula for all new breaks in the event of school closure during a semester to avoid missing either a reduction in the numerator or denominator. Name of the contact person responsible for corrective action: Vicki Hendrickson, Director, Student Financial Services
View Audit 35438 Questioned Costs: $1
Finding 34584 (2022-001)
Significant Deficiency 2022
Corry Memorial Hospital Association D/b/a Lecom Health Corry Memorial
PA
Special Tests & Provisions Student Financial Aid Significant Deficiency
Finding 2022-001: Federal Program: Community Facilities Loans and Grants Cluster: Community Facilities Loans and Grants Assistance Listing Number: 10.766 Criteria: Section 4.4 of the Community Facilities Direct Loan agreement stipulates that the borrower must maintain funds in accounts in accord...
Finding 2022-001: Federal Program: Community Facilities Loans and Grants Cluster: Community Facilities Loans and Grants Assistance Listing Number: 10.766 Criteria: Section 4.4 of the Community Facilities Direct Loan agreement stipulates that the borrower must maintain funds in accounts in accordance with Section 4 of the Loan Resolution. The Loan Resolution stipulates that the borrower must establish a General Account and Reserve Account. The Reserve account must be funded to an amount equaling or exceeding $1,167,219. Condition and Context: The Association did not have a specific Reserve Account established in accordance with the Loan Resolution. Corrective Action Plan: Corry Memorial Hospital Association d/b/a LECOM Health Corry Memorial Hospital and Subsidiaries agrees with the finding and will implement controls sufficient to identify and monitor ongoing compliance with requirements. Additionally, Corry Memorial Hospital Association d/b/a LECOM Health Corry Memorial Hospital and Subsidiaries will establish and fund the required reserve account. Contact Person: Tim McGahen, Chief Financial Officer 965 Shamrock Lane, Corry, PA 16407 Expected Date of Resolution: The policies are expected to be updated effective March 30, 2023. The Reserve account is expected to be established and funded by March 1, 2023.
View Audit 31227
Finding 34526 (2022-002)
Material Weakness 2022
Town of Clarksville
IN
Internal Control / Segregation of Duties Allowable Costs / Cost Principles Cash Management § 200.303
FINDING 2022-002 Contact Person Responsible for Corrective Action: Sherry Lockard Contact Phone Number: 812-283-1500 Views of Responsible Official: The Town concurs with the finding. Description of Corrective Action Plan: The Town has assigned the duties to request reimbursement (LPA Invoice Voucher...
FINDING 2022-002 Contact Person Responsible for Corrective Action: Sherry Lockard Contact Phone Number: 812-283-1500 Views of Responsible Official: The Town concurs with the finding. Description of Corrective Action Plan: The Town has assigned the duties to request reimbursement (LPA Invoice Voucher) from the IN Dept of Transportation to the Office Manager of Public Works. The Office Manager will prepare the LPA Invoice Voucher for INDOT and one of the two ERC?s, Public Works Director, or Assistant Public Works Director, will review for accuracy and sign off on the LPA Invoice Voucher. Anticipated Completion Date: May 9, 2023
View Audit 35793
Finding 34523 (2022-003)
Material Weakness 2022
Monroe Fire Protection District
IN
Internal Control / Segregation of Duties Allowable Costs / Cost Principles Cash Management § 200.303
FINDING 2022-003 Subject: Staffing for Adequate Fire and Emergency Response (SAFER) Contact Person Responsible for Corrective Action: Dustin Dillard Contact Phone Number: 812-331-1906 Views of Responsible Official: We understand and agree with the importance of internal controls and segregation of d...
FINDING 2022-003 Subject: Staffing for Adequate Fire and Emergency Response (SAFER) Contact Person Responsible for Corrective Action: Dustin Dillard Contact Phone Number: 812-331-1906 Views of Responsible Official: We understand and agree with the importance of internal controls and segregation of duties at the District and we believe our policies, procedures, individual job descriptions and management oversight fulfill these necessary requirements, we intend to comply with the suggestions made by the auditing staff. Description of Corrective Action Plan: The SAFER Reimbursement Request spreadsheets are prepared by two administrative personnel who perform checks and balances on calculations, payroll reports, time-keeping reports and employee roster changes before submitting the information to the Fire Chief for review and submission. The District now requires both Administrative personnel to sign and date a cover sheet upon completion of the compilation. The Financial Administrative Assistant will reconcile the data entered into the FEMA portal by the Chief by initialing a printed copy of the dated request. Anticipated Completion Date: To be implemented with all future reimbursement requests following this date 8-23-23 More information about this finding is available in the Supplemental Report.
View Audit 32668
Finding 34498 (2022-001)
Significant Deficiency 2022
University of Cleveland Preparatory School
OH
Special Tests & Provisions Subrecipient Monitoring Significant Deficiency
Finding Number: 2022-001: ESSER ? Wage Rate Requirements Planned Corrective Action: Summary of corrective action to be taken Anticipated Completion Date: December 31, 2022 Responsible Contact Person: Dave Massa, Treasurer As recommended, the School will perform existing controls and establish new c...
Finding Number: 2022-001: ESSER ? Wage Rate Requirements Planned Corrective Action: Summary of corrective action to be taken Anticipated Completion Date: December 31, 2022 Responsible Contact Person: Dave Massa, Treasurer As recommended, the School will perform existing controls and establish new controls to ensure that contractors and subcontractors are in compliance with all labor standards by conducting on-site inspections and collecting the required certified payroll documentation in a timely manner. Specifically, the School will add an Affidavit of Compliance Form to the contracts that will be required to be submitted by the grantee before closing. A project will not be considered closed until the School has received an executed copy of the form. Upon notification of construction commencement, the School will immediately begin monitoring for Wage Rate Requirements in the form of both on-site inspections and review and approval of certified payroll reports.
View Audit 33755
Finding 34492 (2022-102)
Material Weakness 2022
City of Parker, Florida
FL
Matching / Level of Effort / Earmarking Subrecipient Monitoring Material Weakness § 200.303
Financial Statement Finding Number: 2022-102 Lack of Documented Review of Required Quarterly Reports Planned Corrective Action: The City implemented procedures to document review of reports for accuracy and to make sure reports are completed in a timely manner prior to submission. Throughout the ye...
Financial Statement Finding Number: 2022-102 Lack of Documented Review of Required Quarterly Reports Planned Corrective Action: The City implemented procedures to document review of reports for accuracy and to make sure reports are completed in a timely manner prior to submission. Throughout the year the public works assistant input percent of completion of projects into excel spreadsheet which was reviewed by the public works director prior to providing the information to the third-party grant manager for upload to the grant portal but the review by the City was not documented. Going forward, the spreadsheet will continue to be prepared by the public works assistant then sent to public works director for approval and signature prior to providing the spreadsheet to the third party grant manager for submission to the State. Anticipated Completion Date: 09/30/2023 Responsible Contact Person: Taylor Jeffreys, Public Works Assistant
View Audit 32267
Finding 34491 (2022-101)
Material Weakness 2022
City of Parker, Florida
FL
Questioned Costs Matching / Level of Effort / Earmarking Special Tests & Provisions § 200.303
Financial Statement Finding Number: 2022-101 Lack of Documented Review of Reimbursement Requests Planned Corrective Action: This finding was identified during the 2020 audit which was not issued until February of 2022. Once issued, the City implemented new procedures where the Florida Public Assis...
Financial Statement Finding Number: 2022-101 Lack of Documented Review of Reimbursement Requests Planned Corrective Action: This finding was identified during the 2020 audit which was not issued until February of 2022. Once issued, the City implemented new procedures where the Florida Public Assistance website sends an email to request approval of reimbursements. The public work director and public works assistant both approve the reimbursement. The public works assistant then uploads reimbursement into Florida Public Assistance website and signs electronically for reimbursement to document review and approval by the City of the reimbursement request. Anticipated Completion Date: 09/30/2023 Responsible Contact Person: Taylor Jeffreys, Public Works Assistant
View Audit 32267 Questioned Costs: $1
Finding 34458 (2022-001)
Significant Deficiency 2022
Kishwaukee College
IL
Questioned Costs Special Tests & Provisions Student Financial Aid
2022-001: Errors Relating to Return of Title IV Financial Aid - Student Financial Aid Cluster - Assistance Listing Number #s 84.007, 84.033, 84.063, 84.268 - Grant Period - Year Ended June 30, 2022 ...
2022-001: Errors Relating to Return of Title IV Financial Aid - Student Financial Aid Cluster - Assistance Listing Number #s 84.007, 84.033, 84.063, 84.268 - Grant Period - Year Ended June 30, 2022 Condition Found 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 twenty-two. The College used the incorrect number of days the student attended when calculating the return of Title IV. We consider this to be an significant deficiency relating to the Special Tests and Provisions Compliance Requirement. Corrective Action Plan The Financial Aid Office has reviewed all late start students and recalculated their file to include the 6 day break for Spring 2022 semester. We have since updated our training materials to include reviewing the break periods within our schedule to ensure our manual calculations are correct. In addition, we are adding in a quality control review process to ensure dates are calculated correctly. Responsible Person for Corrective Action Plan Gregory Putra, Director of Financial Aid & Veterans Affairs Implementation Date of Corrective Action Plan 7/01/2022
View Audit 32120 Questioned Costs: $1
Finding 34454 (2022-003)
Significant Deficiency 2022
Marian University
IN
Student Financial Aid Special Tests & Provisions Matching / Level of Effort / Earmarking
Audit Finding Number 2022-003 Program Student Financial Assistance Cluster ? Federal Direct Loan Program Federal Assistance Listing Number 84.268 Federal Grantor U.S. Department of Education Views of Responsible Officials We recognize that the effective withdrawal date for 2 students were not update...
Audit Finding Number 2022-003 Program Student Financial Assistance Cluster ? Federal Direct Loan Program Federal Assistance Listing Number 84.268 Federal Grantor U.S. Department of Education Views of Responsible Officials We recognize that the effective withdrawal date for 2 students were not updated in the NSLDS in the prescribed timeline. While we believe that our systemic enrollment changes are updated appropriately in NSLDS, we acknowledge that certain events taking place outside of the normal timeline may be currently delayed. Planned Corrective Action The Registrar?s Office will amend their policy to apply an appropriate status update in NCH for any student whose enrollment status has changed after the reporting term has ended, but is prior to the start of the next reporting term. In turn, the timely update of the NCH will lead to the NSLDS being updated for these unique situations in a timely manner. Anticipated Completion Date December 31, 2022 Responsible Contact Person Michael Bedel, Assistant Vice President of Finance and Accounting Contact Information 317-955-6009
View Audit 30960
Finding 34451 (2022-002)
Significant Deficiency 2022
American Academy McAllister Institute of Funeral Service, Inc.
NY
Matching / Level of Effort / Earmarking Procurement, Suspension & Debarment Significant Deficiency
Recommendation: The auditors recommended that the Institute add additional procedures and implement controls to ensure that they are complying with earmarking requirements. Action Taken: We agree with both the finding and the recommendation. Procedures have been implemented to ensure that a portion ...
Recommendation: The auditors recommended that the Institute add additional procedures and implement controls to ensure that they are complying with earmarking requirements. Action Taken: We agree with both the finding and the recommendation. Procedures have been implemented to ensure that a portion of HEERF III institutional funds are used to implement evidence-based practices to monitor and suppress coronavirus in accordance with public health guidelines for the remaining ARP HEERF III award balance and that proper documentation of the funds used is maintained.
View Audit 30410
Finding 34449 (2022-005)
Significant Deficiency 2022
American Academy McAllister Institute of Funeral Service, Inc.
NY
Special Tests & Provisions Student Financial Aid Significant Deficiency
Recommendation: The auditors recommended that the Institute review and revise its current procedures and have controls in place to ensure required notifications regarding Federal Direct Loan Program proceeds are provided to participating students. Action Plan: We agree with both the finding and the...
Recommendation: The auditors recommended that the Institute review and revise its current procedures and have controls in place to ensure required notifications regarding Federal Direct Loan Program proceeds are provided to participating students. Action Plan: We agree with both the finding and the recommendation. A system has been implemented to send out the required notifications regarding Federal Direct Student Loan Program proceeds that have been applied to a participating student?s ac-count.
View Audit 30410
Finding 34448 (2022-004)
Significant Deficiency 2022
American Academy McAllister Institute of Funeral Service, Inc.
NY
Special Tests & Provisions Student Financial Aid Reporting
Recommendation: The auditors recommended that the Institute review and revise, if necessary, its current procedures and have controls in place to ensure that participating student's enrollment status on the Enrollment Reporting roster file via the Na-tional Student Loan Data System is reported in a ...
Recommendation: The auditors recommended that the Institute review and revise, if necessary, its current procedures and have controls in place to ensure that participating student's enrollment status on the Enrollment Reporting roster file via the Na-tional Student Loan Data System is reported in a timely manner as prescribed by U.S. Department of Education regulations. Action Taken: We agree with both the finding and the recommendation. A system has been imple-mented to ensure that the National Student Loan Data system is updated on a timely basis as pre-scribed by U.S. Department of Education regula-tions.
View Audit 30410
Finding 34447 (2022-003)
Significant Deficiency 2022
American Academy McAllister Institute of Funeral Service, Inc.
NY
Student Financial Aid Special Tests & Provisions Matching / Level of Effort / Earmarking
Recommendation: The auditors recommended that the Institute continue its efforts to ensure all required exit counseling procedures are conducted and documented in compliance with U.S. Department of Education regulations. Action Taken: We agree with both the finding and the recommendation. The inst...
Recommendation: The auditors recommended that the Institute continue its efforts to ensure all required exit counseling procedures are conducted and documented in compliance with U.S. Department of Education regulations. Action Taken: We agree with both the finding and the recommendation. The instances of missed exit conferences with borrowers under the Federal Direct Loan Program were primarily related to students who had been dropped due to non-payment of tuition and who did not respond to our attempts to contact them for an exit conference. We understand that we failed to properly document our efforts to contact these students to schedule and perform an exit conference. We have amended our procedures to document our efforts to contact any students for which an exit conference is required and we have not been able to schedule one.
View Audit 30410
Finding 34377 (2022-001)
Material Weakness 2022
Michigan Barber School
MI
Student Financial Aid Reporting Matching / Level of Effort / Earmarking
FINDING 2022-001-Late Notification to NSLDS
FINDING 2022-001-Late Notification to NSLDS
View Audit 35710
Finding 34367 (2022-002)
Significant Deficiency 2022
Building Hope Finance (formerly Building Hope... A Charter School Fac
DC
Subrecipient Monitoring Reporting Matching / Level of Effort / Earmarking
2022-002 Internal Control over Compliance and Compliance with Reporting Contact: Robin Odland Title: President Phone Number: 202-457-1989 Estimated Completion Date: Second quarter 2023 Corrective Action: In April 2023, management identified a faulty calculation in its APR Spreadsheet and corrected t...
2022-002 Internal Control over Compliance and Compliance with Reporting Contact: Robin Odland Title: President Phone Number: 202-457-1989 Estimated Completion Date: Second quarter 2023 Corrective Action: In April 2023, management identified a faulty calculation in its APR Spreadsheet and corrected the error. As a result of the correction, the total leverage on the APR spreadsheet and summary APR report filed with the U.S. Department of Education will be amended on May 1st, 2023. Management intends to resolve the problem in the future by taking the following additional actions: 1) future APR reports will be based upon the corrected spreadsheet, which has corrected summing error. 2) The sums of the APR spreadsheet will be checked by two parties before submission, to confirm accuracy?the parties will include the party preparing the report and the Accounting Manager responsible for accounting for credit enhancement grants.
View Audit 32168
Finding 34366 (2022-001)
Significant Deficiency 2022
Building Hope Finance (formerly Building Hope... A Charter School Fac
DC
Internal Control / Segregation of Duties Special Tests & Provisions Subrecipient Monitoring
2022-001 Internal Control over Compliance and Compliance with Special Tests and Provisions Contact: Robin Odland Title: President Phone Number: 202-457-1989 Estimated Completion Date: First quarter 2023 Corrective Action: Management takes the provisions of the grant agreement very seriously and has ...
2022-001 Internal Control over Compliance and Compliance with Special Tests and Provisions Contact: Robin Odland Title: President Phone Number: 202-457-1989 Estimated Completion Date: First quarter 2023 Corrective Action: Management takes the provisions of the grant agreement very seriously and has procedures in place to address the prevention of commingling federal funds with private funds. The current condition regarding the commingling of funds was unintentional. Management distributed funds to an escrow agent using both federal and private funds. These funds were deposited into one account as reserved funds to support a credit enhancement transaction. The funds were separated into two sub-accounts to maintain the division of federal versus private funds. The account was a certificate of deposit account. On December 29, 2022 the certificate of deposit matured. Without management?s instruction, the escrow agent decided not to reinvest the funds according to the agreed upon policy and instead erroneously deposited the cash into one federal cash account. As soon as management became aware that the funds were commingled approximately a month later, the private funds were transferred from the federal account into a private account. Management utilizes general ledger accounts to display the separation of federal and private funds. On an ongoing basis, management reviews all cash accounts to ensure funds are not commingled. Monthly, management reviews the balance sheet to manage our cash activity and quarterly, reviews reports that present the separation of the cash groupings.
View Audit 32168
Finding 34365 (2022-001)
Significant Deficiency 2022
Building Hope Finance (formerly Building Hope... A Charter School Fac
DC
Subrecipient Monitoring Reporting Matching / Level of Effort / Earmarking
2022-001 Internal Control over Compliance and Compliance with Reporting Contact: Robin Odland Title: President Phone Number: 202-457-1989 Estimated Completion Date: Second quarter 2023 Corrective Action: In April 2023, Management identified a faulty calculation in its APR Spreadsheet and corrected t...
2022-001 Internal Control over Compliance and Compliance with Reporting Contact: Robin Odland Title: President Phone Number: 202-457-1989 Estimated Completion Date: Second quarter 2023 Corrective Action: In April 2023, Management identified a faulty calculation in its APR Spreadsheet and corrected the error. As a result of the correction, the total leverage on the APR spreadsheet and summary APR report filed with the U.S. Department of Education will be amended on May 1st, 2023. Management intends to resolve the problem in the future by taking the following additional actions: 1) future APR reports will be based upon the corrected spreadsheet, which has corrected summing error. 2) The sums of the APR spreadsheet will be checked by two parties before submission, to confirm accuracy?the parties will include the party preparing the report and the Accounting manager responsible for accounting for credit enhancement grants.
View Audit 32166
Finding 34327 (2022-005)
Material Weakness 2022
East Noble School Corporation
IN
Internal Control / Segregation of Duties Subrecipient Monitoring Material Weakness § 200.303
FINDING 2022-005 Contact Person Responsible for Corrective Action: Brian Leitch, Chief Finance & Operations Officer / Treasurer 260-347-2502 ext.: 10017 Amy Korus, Assistant Superintendent 260-347-2502 ext.: 10026 Views of Responsible Official: We concur with the finding. Description of Corrective A...
FINDING 2022-005 Contact Person Responsible for Corrective Action: Brian Leitch, Chief Finance & Operations Officer / Treasurer 260-347-2502 ext.: 10017 Amy Korus, Assistant Superintendent 260-347-2502 ext.: 10026 Views of Responsible Official: We concur with the finding. Description of Corrective Action Plan: Internal Controls: When preparing and submitting reports for ESSER the Deputy Treasurer, Chief Finance & Operations Officer, and Assistant Superintendent will work together to compile the required information and sign the documents used for reporting. The Chief Finance & Operations Officer will review before the Assistant Superintendent submits the final report. Once the report is submitted it will be printed off, signed by the appropriate parties, and kept on file for review. Anticipated Completion Date: April 2023
View Audit 33462
Finding 34325 (2022-004)
Material Weakness 2022
East Noble School Corporation
IN
Matching / Level of Effort / Earmarking § 200.303
FINDING 2022-004 Contact Person Responsible for Corrective Action: Brian Leitch, Chief Finance & Operations Officer / Treasurer 260-347-2502 ext.: 10017 Roger Urick, Food Service Director 260-347-2502 ext.: 10011 Views of Responsible Official: We concur with the finding. Description of Corrective Ac...
FINDING 2022-004 Contact Person Responsible for Corrective Action: Brian Leitch, Chief Finance & Operations Officer / Treasurer 260-347-2502 ext.: 10017 Roger Urick, Food Service Director 260-347-2502 ext.: 10011 Views of Responsible Official: We concur with the finding. Description of Corrective Action Plan: Eligibility: The application process goes through Meal Magic. The Food Service Director will enter the income thresholds into Meal Magic and the Chief Finance & Operations Officer will review for accuracy and sign at completion. Families will complete their applications with their family and income information. The Food Service Director processes the application based on the information provided in the application. The Food Service Manager will randomly request proof of income to maintain the integrity of the program. Matching, Level of Effort, Earmarking: The Chief Finance & Operations Officer will break out the budget for the Education and Operations fund by building and divide by the student enrollment in September and February after the ADM count are completed. This information will then be shared with the Assistant Superintendent for their review. Anticipated Completion Date: April 2023
View Audit 33462
Finding 34310 (2022-002)
Material Weakness 2022
East Noble School Corporation
IN
School Nutrition Programs Cash Management Material Weakness § 200.303
Contact Person Responsible for Corrective Action: Brian Leitch, Chief Finance & Operations Officer / Treasurer 260-347-2502 ext.: 10017 Roger Urick, Interim Food Service Director 260-347-2502 ext.: 10011 Views of Responsible Official: We concur with the finding. Description of Corrective Action Plan...
Contact Person Responsible for Corrective Action: Brian Leitch, Chief Finance & Operations Officer / Treasurer 260-347-2502 ext.: 10017 Roger Urick, Interim Food Service Director 260-347-2502 ext.: 10011 Views of Responsible Official: We concur with the finding. Description of Corrective Action Plan: Internal Controls: The monthly meal reimbursement claims will be calculated by the Food Service Director by using information obtained through meal magic. Once the meal reimbursement is calculated it will be reviewed by the Deputy Treasurer before being submitted by the Food Service Director. Once the reimbursement is received the Deputy Treasurer will verify it was received as submitted. Anticipated Completion Date: April 2023
View Audit 33462
Saint Elizabeth University
NJ
Student Financial Aid Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties
Federal Direct Loans Reconciliations Planned Corrective Action: The University will ensure that incomplete reconciliation is completed for 2021-2022. We will ensure that monthly reconciliation is completed as required as follows: 1. Monthly reconciliations will be signed by the Director of Financ...
Federal Direct Loans Reconciliations Planned Corrective Action: The University will ensure that incomplete reconciliation is completed for 2021-2022. We will ensure that monthly reconciliation is completed as required as follows: 1. Monthly reconciliations will be signed by the Director of Financial Aid and Vice President for Enrollment Management Person Responsible for Corrective Action Plan: Sheri Jefferson, Interim Director of Financial Aid Anticipated Date of Completion: June 30, 2023
View Audit 28719
Presbyterian College
SC
Special Tests & Provisions Student Financial Aid HUD Housing Programs
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 1 of 25 students tested, the College was unable to locate Perkins promissory note related to this st...
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 1 of 25 students tested, the College was unable to locate Perkins promissory note related to this student. Corrective Action Plan: The College maintains all Perkins promissory notes in alphabetical order, in a dedicated filing cabinet, in a fireproof vault. This finding relates to a promissory note that was signed in 1987 and the College is not aware of what may have caused this Promissory note to be misplaced. No further action is planned by Management as the Perkins Loan Program expired on September 30, 2017 and no additional Perkins Loan disbursements were made by the College since the Program?s expiration. Anticipated Completion Date: March 1, 2023
View Audit 29056
Presbyterian College
SC
Questioned Costs Special Tests & Provisions Student Financial Aid
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 1 of 2 students selected for testing, the College did not return the correct amount to COD. Correct...
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 1 of 2 students selected for testing, the College did not return the correct amount to COD. Corrective Action Plan: As of September 2022, the Office of Financial Aid began utilizing the R2T4 Worksheet found on COD. This more clearly and specifically states the net total that should be returned. Anticipated Completion Date: September 1, 2022
View Audit 29056 Questioned Costs: $1
Presbyterian College
SC
Student Financial Aid Special Tests & Provisions Matching / Level of Effort / Earmarking
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 1 of 40 students tested, the College was unable to provide a copy of the award disbursement notifica...
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 1 of 40 students tested, the College was unable to provide a copy of the award disbursement notification letter sent to student and or parent for parent plus borrowers, which includes the amount of funds the student and his or her parent can expect to receive from each FSA program and how and when those funds will be disbursed. Corrective Action Plan: The College recognizes that when Direct Loan funds are being credited to a student?s ledger account (except in the case of loan funds made as part of a post-withdrawal disbursement), the school must notify the borrower in writing (paper or electronically) of the: ? anticipated date and amount of the disbursement; ? student?s or parent?s right to cancel all or a portion of a loan or loan disbursement and have the loan proceeds returned to the Department; and ? procedures and deadlines by which the student or parent must notify the school that he or she wishes to cancel the loan or loan disbursement. The timing of a loan notification varies depending on whether a school obtains affirmative confirmation from a student that he or she wants a loan. Affirmative confirmation is a process under which a school obtains written confirmation of the types and amounts of Title IV loans a student wants for the period of enrollment before the institution credits the student?s account with those loan funds (34 CFR 668.165(a)(6)). Presbyterian College requires students to accept Direct Loan awards in BannerWeb so notifications are sent according to requirements when a student actively confirms the loan. Disbursement notifications were sent to students after each disbursement during the 2021-2022 academic year; however, the parent was not directly notified of a PLUS loan disbursement. For the 2023-2024 academic year, a PLUS Loan Form has been created and will be sent to the parent borrower to confirm the amount requesting. As of March 6, 2023, notifications are being created to notify parents with PLUS loans of disbursement and their rights. Anticipated Completion Date: March 6, 2023
View Audit 29056
Finding 34266 (2022-004)
Significant Deficiency 2022
Presbyterian College
SC
Student Financial Aid Subrecipient Monitoring Eligibility
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 2 of 2 mid-year transfer students tested, the school did not actively add these students to the NSLD...
Individuals Responsible for Corrective Action Plan Jeff Scaccia, CPA (Vice President for Finance and Administration) Libby Shull, CPA (Controller) April Baur, (Director of Student Financial Aid) For 2 of 2 mid-year transfer students tested, the school did not actively add these students to the NSLDS transfer monitoring list. Corrective Action Plan: The College acknowledges the requirement that schools obtain financial aid history information for their transfer students. Due to the small number of transfer students accepted by the College, it is the College?s belief that it followed US Department of Education guidance allowing a school to use NSLDS information for a mid-year transfer student if it obtained that information no earlier than 30 days prior to the first day of the student?s payment period (Dear Partner Letter GEN 00-12). The new Director of Financial Aid works closely with the Office of Admission and will update NSLDS manually to ?inform? it of the transfer students applying to PC mid-year. This is a relatively small group of students. For those students included on a school?s ?Inform? list, NSLDS ?Monitors? changes to the student?s financial aid history that have occurred since the latest ISIR for the student was generated and sent to the school. NSLDS will continue to monitor changes to the student?s financial aid history, and alert the school of any subsequent relevant changes. A staff member in the Office of Financial Aid will be assigned to review the Transfer Monitoring files. Anticipated Completion Date: March 1, 2023
View Audit 29056
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