Marymount University administration acknowledges the findings from the 2021-2022 audit. Marymount administration takes the findings, which arose as part of the fiscal year 2021-2022 audit, very seriously and, following a root cause analysis, has put in place the following comprehensive corrective ac...
Marymount University administration acknowledges the findings from the 2021-2022 audit. Marymount administration takes the findings, which arose as part of the fiscal year 2021-2022 audit, very seriously and, following a root cause analysis, has put in place the following comprehensive corrective action plan: - Marymount University has experienced a turnover in the financial aid office from the Director down to the counselor position. Transitional issues have arisen from the turnover, including lack of continuity in office processes and lack of knowledgeable staff. - In late 2022, Marymount University contracted with Attain Partners, LLC, to provide interim management services in Financial Aid. After the turnover of personnel, this was necessary to fill the void created by the departure of the Director of Financial Aid and other staff. The Attain Partners consultants have provided the interim management services to assure compliance with Title IV regulations, including Return to Title IV Funds process. - Due to the turnover in the office, the calculations were not completed. Attain Partners has completed the reconstruction and COD updates. - Current R2T4 processes are in line with Title IV regulations. Attain Partners will assure timely processing going forward. - Attain Partners will be reviewing existing processes related to student financial aid. As an outcome of this review the processes and schedule will be fully documented and implemented as documented.