FAC Explorer

Corrective Action Plans

Browse how organizations respond to audit findings

Total CAPs
51,636
In database
Filtered Results
4,120
Matching current filters
Showing Page
112 of 165
25 per page

Filters

Clear
Active filters: Student Financial Aid
Loras College
IA
Student Financial Aid Reporting Internal Control / Segregation of Duties
Corrective Action: Management has reviewed procedures and policy for accurate FISAP reporting to be in compliance with federal regulations. The College will conduct review by the Loras College alternative responsible official prior to final submission of the FISAP to be sure data inputs are accurate...
Corrective Action: Management has reviewed procedures and policy for accurate FISAP reporting to be in compliance with federal regulations. The College will conduct review by the Loras College alternative responsible official prior to final submission of the FISAP to be sure data inputs are accurate.
View Audit 291202
Finding 369739 (2023-001)
Significant Deficiency 2023
Loras College
IA
Student Financial Aid Matching / Level of Effort / Earmarking Reporting
Corrective Action: Management has reviewed policies and procedures for accurate reporting of enrollment status and changes to be in compliance with federal regulations. The College will designate a secondary responsible individual to conduct a review of the preparation of the digital file and review...
Corrective Action: Management has reviewed policies and procedures for accurate reporting of enrollment status and changes to be in compliance with federal regulations. The College will designate a secondary responsible individual to conduct a review of the preparation of the digital file and review the digital file of student enrollment changes before it is submitted to the National Student Loan Clearinghouse. The Office of Financial Planning will conduct monthly review as a secondary review of enrollment reporting in the National Student Loan Data System (NSLDS).
View Audit 291202
Finding 369675 (2023-001)
Significant Deficiency 2023
Loyola University Maryland, Inc.
MD
Questioned Costs Student Financial Aid Eligibility
Finding 2023-001 - ISIR transaction 01 was imported on January 21, 2022, with no C fiag. The student was awarded a Federal Direct Unsubsidized Loan on June 22, 2022. The Fall 2022 semester began on September 6, 2022. The Fali 22 loan disbursement ($10,250) was credited to the student’s account on Se...
Finding 2023-001 - ISIR transaction 01 was imported on January 21, 2022, with no C fiag. The student was awarded a Federal Direct Unsubsidized Loan on June 22, 2022. The Fall 2022 semester began on September 6, 2022. The Fali 22 loan disbursement ($10,250) was credited to the student’s account on September 6, 2022. - Transaction 02 was imported on September 8, 2022, two days after the start of the semester and loan disbursement. Transaction 02 had a C fiag. - Transaction 03 was imported on October 21, 2022 with the same C flag. - The Spring 2023 semester began on January l7, 2023, and the Spring 23 loan disbursement ($10,250) occurred on January 17, 2023. - The C fiag was resolved April 11, 2023, after the spring loan disbursement and prior to the end of the 2022-23 academic year. The academic year ended on May 11, 2023. Corrective Action Planned: The Graduate Financial Aid Office conducts a comprehensive review of all iSIRs for C flags before proceeding with awarding and disbursing aid. No aid is awarded to a student until the C fiag is addressed. To consistently monitor subsequent ISIR transactions, Graduate Financial Aid receives a daily spreadsheet of that day‘s imported iSIRs, prompting a routine daily review. To further ensure no C flags go unnoticed, Graduate Financial Aid will enhance their current procedures immediately by incorporating the Colleague ISIR Alert Report (IART). This tool highlights any ISIR records that may need review and will be generated weekly. Contact Person Responsible for Corrective Action: DanielleJ Ballantyne, Director, Graduate Financial Aid and Brandon Gumabon, Assistant Director, Graduate Financial Aid.
View Audit 291078 Questioned Costs: $1
Finding 369661 (2023-001)
Significant Deficiency 2023
Carroll Community College
MD
Matching / Level of Effort / Earmarking Student Financial Aid Reporting § 200.303
U.S. Department of Education 2023-001: NSLDS Enrollment Reporting Student Financial Aid Cluster – Assistance Listing No. 84.063, 84.268 Condition: During testing of enrollment status reporting, we noted that a student’s correct enrollment status and effective date was not reported to NSLDS. Recomme...
U.S. Department of Education 2023-001: NSLDS Enrollment Reporting Student Financial Aid Cluster – Assistance Listing No. 84.063, 84.268 Condition: During testing of enrollment status reporting, we noted that a student’s correct enrollment status and effective date was not reported to NSLDS. Recommendation: The College should evaluate their procedures and policies related to reporting status changes to NSLDS and enhance as deemed necessary to ensure that accurate information is reported to NSLDS. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The College agrees with the recommendation to evaluate the procedures and policies related to reporting status changes to the Department of Education’s National Student Loan Data System (NSLDS). For many years, Carroll has contracted with the National Student Clearinghouse (NSC) for their comprehensive enrollment and graduate reporting services. They become an authorized agent, providing status updates to the NSLDS on our behalf. Carroll has begun a review, using the NSC and their resources and tools, to better understand why the student’s graduate status was not transmitted from the NSC to the NSLDS. Carroll staff will review the resources to ensure our procedures and processes meet the NSC expectations. Additionally, at the end of each term, the College will randomly select three students with status changes to verify that the reporting process to the NSLDS is accurate and timely. Name(s) of the contact person(s) responsible for corrective action: Mr. Gregg Bricca, Director of Institutional Effectiveness. Planned completion date for corrective action plan: 6/30/24
View Audit 291047
St. Thomas University Inc.
FL
Special Tests & Provisions Procurement, Suspension & Debarment Student Financial Aid
The Business Office has implemented measures to ensure that Perkins Promissory Notes are identified, stored, and accessible during their repayment and collection period. In addition to the current filing system, the Business Office will utilize management software for ease of access and recording. ...
The Business Office has implemented measures to ensure that Perkins Promissory Notes are identified, stored, and accessible during their repayment and collection period. In addition to the current filing system, the Business Office will utilize management software for ease of access and recording. To ensure that all remaining promissory notes are kept in accordance with Department of Education regulations, the Business Office will: • Record all incoming promissory notes internally and externally. • Promissory notes created prior to 2013 will be made digitally accessible through Perceptive Content, a secure content management system. Access to these promissory notes will only be accessible by parties with authorized access. • Promissory notes created after 2013 will continue to be made available through Heartland ECSI’s third party filing system. ECSI records paid, completed, cancelled, and retired promissory notes that were created after 2013. • In accordance with the Perkins Assignment and Liquidation Guide from the Department of Education (EA ID: General-21-53), all accounts with promissory notes unable to be located will be written off and/or purchased from the Department of Education. The Policy and Procedures manual has been updated to reflect this process. Contact Person: Maribel Smith, Controller
View Audit 291002
St. Thomas University Inc.
FL
Special Tests & Provisions Student Financial Aid Internal Control / Segregation of Duties
In June 2023, St. Thomas University transitioned to Paycom, a cloud-based payroll service that offers payroll processing and HR services in a single software, STU utilizes the Time and Attendance module for students Timesheets. All timesheets are electronically saved, in the event an Employee submi...
In June 2023, St. Thomas University transitioned to Paycom, a cloud-based payroll service that offers payroll processing and HR services in a single software, STU utilizes the Time and Attendance module for students Timesheets. All timesheets are electronically saved, in the event an Employee submits a paper time sheet due to a missed time period, the document is scanned and saved in the shared payroll file. Training is being provided for students and supervisors to reduce the need for any paper timesheets. The Policy and Procedures manual has been updated to reflect this process. Contact Person: Neville Bates, Payroll Manager
View Audit 291002
Finding 369604 (2023-006)
Significant Deficiency 2023
Arizona Christian University
AZ
Student Financial Aid Eligibility Significant Deficiency
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend that the University review its procedures related to firsttime borrowers to ensure they are in compliance with the Department of Education's regulations. Explanation of disagreement with audit finding:...
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend that the University review its procedures related to firsttime borrowers to ensure they are in compliance with the Department of Education's regulations. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: We hold all first-time freshman loan funds for 30 days after the start to ensure we are not paying anyone early. Additionally, we will run an entrance term report prior to the start of the semester/term. From this report we can identify all first-time borrowers and tag them in populi. Prior to batching federal funds, the financial aid office will pull a report by said tag and ensure disbursements dates are 30 days from the start of the term/semester. Name(s) of the contact person(s) responsible for corrective action: Lisa Stone, Joyce Hatch and Kelly Reyes Planned completion date for corrective action plan: November 2023
View Audit 290967
Finding 369599 (2023-005)
Significant Deficiency 2023
Arizona Christian University
AZ
Questioned Costs Student Financial Aid Significant Deficiency
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend that the University review its procedures related to outstanding student refund checks to ensure they are being returned to the Department of Education after 240 days. Explanation of disagreement with ...
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend that the University review its procedures related to outstanding student refund checks to ensure they are being returned to the Department of Education after 240 days. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: We have created a Stale check policy & procedure. The financial aid department will work in concert with student accounts and accounts payable to ensure compliance. The process has checkpoints starting at 30, 60 up to 180 days. 60 days before a check reaches 240 days. Name(s) of the contact person(s) responsible for corrective action: Lisa Stone, Joyce Hatch, Kelly Reyes, Michael Warner, Christy Krahn and Vikki Straw. Planned completion date for corrective action plan: November 2023
View Audit 290967 Questioned Costs: $1
Finding 369589 (2023-003)
Significant Deficiency 2023
Arizona Christian University
AZ
Student Financial Aid Reporting Significant Deficiency
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend the Institute review its reporting procedures to ensure that students’ statuses are timely reported to NSLDS as required by regulations. Explanation of disagreement with audit finding: There is no disa...
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend the Institute review its reporting procedures to ensure that students’ statuses are timely reported to NSLDS as required by regulations. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: After an analysis of the auditor's finding, ACU's director of financial aid, AVP of institutional effectiveness, and associate director of institutional research concluded that a misunderstanding of the National Clearinghouse's process for summer enrollment reporting was the cause of the finding. During the summer months of June, July, and August, ACU has been submitting enrollment reports, including withdrawals, only for students enrolled in summer terms. Withdrawals of students enrolled in the spring term were not being reported until after the fall term commenced. To remedy this finding, the Department of Financial Aid (FA) and the Office of Institutional Effectiveness (OIE) has coordinated with the National Student Clearinghouse (NSC) to identify which reporting method would ensure that all withdrawn students are accounted for and reported between the spring and fall terms. It was determined we would send custom files that include all withdrawn students in early June and July. The report will be uploaded through the NSC's secure file upload system at least once between May 30th and August 30th, with no more than 60 days between any two enrollment file submissions. Name(s) of the contact person(s) responsible for corrective action: Lisa Stone, Jeff Phillips and Eric Tompkins Planned completion date for corrective action plan: May/June 2024
View Audit 290967
Finding 369584 (2023-002)
Significant Deficiency 2023
Arizona Christian University
AZ
Student Financial Aid Reporting Significant Deficiency
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely. Explanation of disagreement with audit fi...
Student Financial Assistance Cluster – Assistance Listing No. Various Recommendation: We recommend the University evaluate its procedures and policies around reporting disbursements to COD to ensure that student information is reported accurately and timely. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: The incorrect date was for a student who received the Pell Grant. When we batch Pell student awards in COD; and return funds at the same time, this will often cause a shortage in our Pell G5 account. This will delay the disbursement date on the school side. Although COD releases the disbursement, the funds are not available in G5 until days later and in some cases weeks later. The first step is to not process returns and draw downs at the same time. This will ensure the funds are in the Pell G5 acount so disbursment dates will match. The second piece is to audit the disbursement dates at the end of each semester to ensure we match. Name(s) of the contact person(s) responsible for corrective action: Lisa Stone, Joyce Hatch and Kelly Reyes Planned completion date for corrective action plan: November 2023
View Audit 290967
Finding 369499 (2023-001)
Significant Deficiency 2023
Wells College
NY
Student Financial Aid Subrecipient Monitoring
Wells College (the College) respectfully submits the following corrective action plan for the year ended June 30, 2023. Name and address of independent public accounting firm: Bonadio & Co., LLP 432 North Franklin Street #60 Syracuse, New York 13204 Audit period: July 1, 2022 - June 30, 2023 The fin...
Wells College (the College) respectfully submits the following corrective action plan for the year ended June 30, 2023. Name and address of independent public accounting firm: Bonadio & Co., LLP 432 North Franklin Street #60 Syracuse, New York 13204 Audit period: July 1, 2022 - June 30, 2023 The findings from the 2023 schedule of findings and questioned costs are discussed below. The findings are numbered consistently with the numbers assigned in the schedule. FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL AWARD PROGRAMS AUDIT Finding 2023-001 - Student Financial Assistance Cluster Compliance Requirement N. Gramm-Leach-Bliley Act-Student Information Security Recommendation: Our auditors recommend that we conduct a formal risk assessment and update our written information security program (WISP) to ensure the seven required elements are addressed. As part of this process, Information Technology (IT) policies should be updated to align with our current IT environment and be formally approved and implemented throughout the College. Action Taken: Wells College is partnering with Grey Castle Security to do a Risk Assessment and Penetration test. This will be completed in February. Additionally, Grey Castle has helped to redraft our Incident Response Plan. This has been completed, and training on this plan is scheduled for later in January, with Tabletop simulations occurring with the Wells College Emergency Planning Team and IT in February. Over the next couple of months, IT will be refreshing its policies in collaboration with the Wells College Technology Advisory Group (TAG), a committee representing all areas of the college. Once TAG has approved policies, they will go to the Cabinet for approval. Multiple policies will be merged to create the WISP as a self-contained document, rather than the multiple policies in place. The Chief Financial Officer, Robert Cree, is responsible for implementing this plan by June 30, 2024, and can be reached at (315) 364-3408 or rcree@wells.edu .
View Audit 290774
Finding 369472 (2023-002)
Significant Deficiency 2023
Western Seminary
OR
Questioned Costs Student Financial Aid Reporting
Untimely Returns of Title IV Funds (R2T4) Planned Corrective Action: We agree with this recommendation. We continue strengthening the tracking system around the timely processing of R2T4 refunds. From the Fall 2023 semester, we developed a report within our Student Information System (SIS) to trac...
Untimely Returns of Title IV Funds (R2T4) Planned Corrective Action: We agree with this recommendation. We continue strengthening the tracking system around the timely processing of R2T4 refunds. From the Fall 2023 semester, we developed a report within our Student Information System (SIS) to track students who both received a loan and have dropped classes within Western Seminary’s SIS. From the Spring 2024 semester, we require attendance to be tracked in all classes, including in-person classes. We historically already track attendance of online courses. Financial Aid and the Business Office will have access to regularly scheduled reports to quickly identify when students stop attending class to determine whether an R2T4 form is required and should be processed. Person Responsible for Corrective Action Plan: Jonathan Gibson, CFO Anticipated Date of Completion: June 30, 2024
View Audit 290692 Questioned Costs: $1
Newberry College
SC
Student Financial Aid Allowable Costs / Cost Principles Matching / Level of Effort / Earmarking
Lack of Documentation of Exit Counseling Planned Corrective Action: Exit counseling letters have been emailed within 30 days of a student’s separation from Newberry College. A record of this notification is maintained in the financial aid software system for audit purposes. The senior associate...
Lack of Documentation of Exit Counseling Planned Corrective Action: Exit counseling letters have been emailed within 30 days of a student’s separation from Newberry College. A record of this notification is maintained in the financial aid software system for audit purposes. The senior associate director will be responsible for completing this process and the director will assist or complete, if necessary. Person Responsible for Corrective Action Plan: Karen Benfield, Director of Financial Aid Anticipated Date of Completion: This process is being implemented for the 2023-24 academic year.
View Audit 290607
Newberry College
SC
Student Financial Aid Reporting Eligibility
Enrollment Reporting to NSLDS Planned Corrective Action: We have created a process with specific individuals responsible for updating and submitting the roster timely; train staff and create and follow policies and procedures to ensure no delays in reporting a change in status. We have designated...
Enrollment Reporting to NSLDS Planned Corrective Action: We have created a process with specific individuals responsible for updating and submitting the roster timely; train staff and create and follow policies and procedures to ensure no delays in reporting a change in status. We have designated an individual to pull a statistical report from NSLDS to verify the reporting is updated for each period of enrollment. Person Responsible for Corrective Action Plan: Marilyn Eason, Registrar Anticipated Date of Completion: This problem should be resolved when Newberry moves to the J1 platform this spring. It is expected enrollment reporting will be automated by the summer of 2024.
View Audit 290607
Newberry College
SC
Student Financial Aid Matching / Level of Effort / Earmarking Eligibility
Monthly Reconciliations of Pell Grant and Federal Direct Loans Planned Corrective Action: Monthly reconciliations for the Pell Grant and Federal Direct Loan Programs have been completed to date for the 23-24 academic year. The senior associate director is responsible for completing monthly reconc...
Monthly Reconciliations of Pell Grant and Federal Direct Loans Planned Corrective Action: Monthly reconciliations for the Pell Grant and Federal Direct Loan Programs have been completed to date for the 23-24 academic year. The senior associate director is responsible for completing monthly reconciliations and the director will perform if necessary. Person Responsible for Corrective Action Plan: Karen Benfield, Director of Financial Aid Anticipated Date of Completion: This process is being implemented for the 2023-24 academic year.
View Audit 290607
Newberry College
SC
Questioned Costs Student Financial Aid Internal Control / Segregation of Duties
Incorrect Pell Calculations Planned Corrective Action: The process for awarding and disbursing summer Pell Grants is being discussed. The new process will involve a thorough review of summer enrollment. Aid will disburse for session 1 and session 2 after the last day to add or drop a course. The ...
Incorrect Pell Calculations Planned Corrective Action: The process for awarding and disbursing summer Pell Grants is being discussed. The new process will involve a thorough review of summer enrollment. Aid will disburse for session 1 and session 2 after the last day to add or drop a course. The director will oversee summer awarding and the senior associate director will assist by providing necessary reports. Person Responsible for Corrective Action Plan: Karen Benfield, Director of Financial Aid Anticipated Date of Completion: This process will be finalized by June 2024.
View Audit 290607 Questioned Costs: $1
Finding 369423 (2023-003)
Material Weakness 2023
Newberry College
SC
Student Financial Aid Subrecipient Monitoring Material Weakness
Gramm Leach Bliley Act (GLBA) Compliance Planned Corrective Action: The college has implemented policies and procedures to address GLBA compliance and is taking steps to address all exceptions noted. Person Responsible for Corrective Action Plan: Jon Kokos, CFO Anticipated Date of Completion...
Gramm Leach Bliley Act (GLBA) Compliance Planned Corrective Action: The college has implemented policies and procedures to address GLBA compliance and is taking steps to address all exceptions noted. Person Responsible for Corrective Action Plan: Jon Kokos, CFO Anticipated Date of Completion: June 30, 2024
View Audit 290607
Finding 369420 (2023-002)
Material Weakness 2023
Newberry College
SC
Student Financial Aid Material Weakness Matching / Level of Effort / Earmarking
Inaccurate Return of Title IV Funds (R2T4) Planned Corrective Action: The director is performing the R2T4 calculation, returning funds (if necessary), adjusting the student’s awards and bill in the appropriate software. The senior associate director is reviewing each student to be certain the cor...
Inaccurate Return of Title IV Funds (R2T4) Planned Corrective Action: The director is performing the R2T4 calculation, returning funds (if necessary), adjusting the student’s awards and bill in the appropriate software. The senior associate director is reviewing each student to be certain the correct funds are being reduced and/ or returned based on the calculation. Person Responsible for Corrective Action Plan: Karen Benfield, Director of Financial Aid Anticipated Date of Completion: This process is being implemented for the 2023-24 academic year.
View Audit 290607
Finding 369371 (2023-005)
Significant Deficiency 2023
Oklahoma Panhandle State University
OK
Questioned Costs Student Financial Aid Significant Deficiency § 200.303
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the Universi...
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the University document review of Return to Title IV calculations by an employee that did not prepare the calculations. We also recommend that the University review policies and procedures related to R2T4 calculations to ensure calculations are performed correctly and disbursed timely. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Financial aid personnel will implement Return to Title IV FSA calculation spreadsheet for additional backup support in determining if banner has calculated return amounts correctly. Additionally, financial aid will require all R2T4 calculations to be secondarily reviewed and confirmed in RHACOMM. The scheduled breaks for each semester will be determined by the Director of Financial Aid and given to the Registrar to be input into banner module SOATBRK. These breaks are what banner then uses for Return to Title IV purposes. Update procedures to reflect additional actions. Name(s) of the contact person(s) responsible for corrective action: Dasha Smith Planned completion date for corrective action plan: 4/1/24
View Audit 290586 Questioned Costs: $1
Finding 369367 (2023-004)
Significant Deficiency 2023
Oklahoma Panhandle State University
OK
Student Financial Aid Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties § 200.303
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the Univers...
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the University review its current procedures for awarding Title IV funds and implement changes necessary to ensure federal funds are awarded and disbursed in accordance with federal regulations. We also recommend the University disburse the proper Pell award to these students. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Check Pell Calculation settings in banner and adjust, if needed, to achieve maximum accuracy based on student criteria (COA, EFC/SAI, Enrollment Status). Name(s) of the contact person(s) responsible for corrective action: Dasha Smith Planned completion date for corrective action plan: 4/1/24
View Audit 290586
Finding 369363 (2023-003)
Material Weakness 2023
Oklahoma Panhandle State University
OK
Student Financial Aid Matching / Level of Effort / Earmarking Material Weakness § 200.303
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the Universi...
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the University review current processes for reporting to NSLDS and implement procedures to ensure submissions are reported timely and accurately. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Ellucian, the producer of Banner, had a known defect that caused incorrect status change dates to be inserted in the Banner program which processes student enrollments. This defect was not known to me at the time, therefore, it was not something I was aware to be looking for when completing enrollment reporting. There were no errors which would have alerted me to the issue. See case PB006205. Known defect now seems to be corrected. Will review current processes in order to ensure the continuance of timely and accurate reporting, and to eliminate the possibility of future errors being at the fault of the University. Name(s) of the contact person(s) responsible for corrective action: Erin Moore and Dasha Smith Planned completion date for corrective action plan: 4/1/24
View Audit 290586
Finding 369359 (2023-002)
Significant Deficiency 2023
Oklahoma Panhandle State University
OK
Matching / Level of Effort / Earmarking Student Financial Aid Reporting § 200.303
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the Universi...
Federal Supplemental Educational Opportunity Grant - Assistance List No. 84.007 Federal Work Study Program- Assistance Listing No. 84.033 Federal Pell Grant Program - Assistance Listing No. 84.063 Federal Direct Student Loans - Assistance Listing No. 84.268 Recommendation: We recommend the University review reporting processes to ensure all students that require exit counseling receive it in a timely manner. Explanation of disagreement with audit finding: There is no disagreement with the audit finding. Action taken in response to finding: Request a formal count of all graduates from Registrar at the end of each semester and review the number of exit counseling notifications sent from financial aid to ensure notifications are sent to all appropriate graduating students. Update procedures to reflect additional review. Name(s) of the contact person(s) responsible for corrective action: Dasha Smith Planned completion date for corrective action plan: 4/1/24
View Audit 290586
Finding 369347 (2023-001)
Significant Deficiency 2023
The Culinary Institute of America
NY
Student Financial Aid Matching / Level of Effort / Earmarking
Rules set up within the system to generate a list of students who disbursed Title IV funds during each term failed when new academic year field was not updated for the new year. The Student Financial Planning Office identified the error on October 6, 2022 – six days over the 15 – day reporting requ...
Rules set up within the system to generate a list of students who disbursed Title IV funds during each term failed when new academic year field was not updated for the new year. The Student Financial Planning Office identified the error on October 6, 2022 – six days over the 15 – day reporting requirement. Error was identified and updated the system by creating new rule criteria. Management has updated the opening of a new federal year standard operating procedure (SOP). The updated SOP now has the running of the registered student credits process for the opening of each new academic year added to the annual calendar. In addition, management enhanced the eligibility rule criteria from one rule to two rules. By separating out the loan origination and acceptance rule into two separate rules an extra barrier of prevention has been added to help ensure only loans originated and accepted are disbursed to the student’s account. The College has complied since October 6, 2022, and no further findings were found after that date. Responsible Party: Jeanine Gemmell, Director of Student Financial Planning Completion Date: October 6, 2022
View Audit 290571
Cleary University
MI
Student Financial Aid Internal Control / Segregation of Duties
Detailed Reconciliations Between Common Origination and Disbursement (COD) and University Records Planned Corrective Action: The University understands and concurs with the auditors finding to the lack of a detailed reconciliation between the Common Origination and Disbursement (COD) and Univers...
Detailed Reconciliations Between Common Origination and Disbursement (COD) and University Records Planned Corrective Action: The University understands and concurs with the auditors finding to the lack of a detailed reconciliation between the Common Origination and Disbursement (COD) and University Records. While Cleary was reconciling monthly totals between the COD and University Records; it was brought to our attention during the audit that it needed to be in greater detail. Going forward, the plan of action will be that on a monthly basis; reports will be generated from the COD (Loan and Pell Disbursement Detail Reports) and compared to the Student Information System (SIS). This will be completed monthly on a student-by-student detailed basis. This will be completed by the Financial Aid Department with the assistance of the Business Office to ensure that accuracy. A copy of the monthly reconciliation will be saved in our Month End Folder; for Leadership to review at any time. Person Responsible for Corrective Action Plan: Michael Mathis, Director of Financial Aid Anticipated Date of Completion: January 2024
View Audit 290552
Finding 369315 (2023-004)
Material Weakness 2023
Cleary University
MI
Questioned Costs Student Financial Aid Internal Control / Segregation of Duties
Incorrect and Untimely Return of Title IV Funds Calculation (R2T4) Planned Corrective Action: The University understands and concurs with the incorrect and untimely return of some Title IV funds. In response, the University has taken three (3) immediate steps to address this deficiency in the futu...
Incorrect and Untimely Return of Title IV Funds Calculation (R2T4) Planned Corrective Action: The University understands and concurs with the incorrect and untimely return of some Title IV funds. In response, the University has taken three (3) immediate steps to address this deficiency in the future. First, the institution has added financial aid staff with significant expertise and experience in the administration of the R2T4 process to periodically review standard and modular students R2T4 to ensure accurate, timely and compliant returns and reporting. Second, the University has identified policy and procedure improvements that align with best practice approaches to R2T4 administration in support of Pell recalculations and accurate return of funds. Finally, the institution has identified professional development opportunities for all financial aid, and associated personnel, to improve theoretical and practical awareness and implementation of the return process i.e., conference/webinar participation, in-house training workshops and discussions, identified liaison/unit champion roles, etc. Person Responsible for Corrective Action Plan: Michael Mathis, Director of Financial Aid Anticipated Date of Completion: January 2024
View Audit 290552 Questioned Costs: $1
« 1 110 111 113 114 165 »