Finding Text
2024-004 – Return of Title IV (R2T4) Funds
Federal Agency: U.S. Department of Education
Federal Program Title: Student Financial Assistance Cluster
Federal Assistance Listing Number: 84.063, 84.007, 84.268, 84.379, 84.033, & 84.038
Award Period: 7/1/2023 – 6/30/2024
Type of Finding: Significant Deficiency in Internal Control over Compliance, Other Matters
Criteria or Specific Requirement: For a student who ceases attendance at an institution that is required to take attendance, including a student who does not return from an approved leave of absence, the student's withdrawal date is the last date of academic attendance as determined by the institution from its attendance record (34 CFR 668.22(b)(1)).
Condition: During our testing, the incorrect scheduled end date and number of days in scheduled breaks were used in the R2T4 calculations.
Questioned Costs: $4,068
Context: During our testing, 3 of 5 instances were noted where the University mistakenly put the incorrect semester end date and incorrect number of days in scheduled breaks.
Cause: R2T4 calculations are not being accurately performed.
Effect: The University did not complete an accurate calculation as defined by Federal Regulations.
Repeat Finding: Yes, prior year finding 2023-006.
Recommendation: We recommend the University review all R2T4 calculations to ensure the correct end date and number of scheduled break days are being used for all Title IV aid.
Views of Responsible Officials: Management agrees with the finding.