Finding 1080541 (2024-003)

Significant Deficiency
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2024-10-29
Audit: 326504
Organization: University of Dallas (TX)

AI Summary

  • Core Issue: The University failed to provide a URL for its contract with a servicer to the Department of Education, impacting compliance with Title IV regulations.
  • Impacted Requirements: This oversight relates to the requirements outlined in 34 CFR 668.164(e) and (f) regarding the delivery of Title IV credit balances.
  • Recommended Follow-Up: Ensure all required information is submitted to the Department of Education promptly and review internal controls to prevent future compliance issues.

Finding Text

Criteria or specific requirement – Special Tests and Provisions – Using a Servicer or Financial Institution to Deliver Title IV Credit Balances to a Card or Other Access Device (34 CFR 668.164(e) and (f). Condition – The University did not provide a URL for the contract to the Department of Education for publication in the Cash Management Contracts Database. Questioned Costs - $0 Context – The University entered into an agreement with a servicer to deliver Title IV credit balances in 2017 but did not provide the URL to the Department of Education. Effect – The University was not in compliance with the requirements noted above. Cause – The University’s internal controls did not ensure the required information was provided to the Department of Education. Identification of repeat finding, if applicable – N/A Views of responsible officials and planned corrective actions – The University has reviewed the requirements in 34 CFR 668.164(e) and (f) and the required information was submitted to the Department of Education on September 13, 2024. It should be noted that the information was available to the student’s on the University’s website at all times required.

Categories

Special Tests & Provisions Student Financial Aid Cash Management Internal Control / Segregation of Duties

Other Findings in this Audit

  • 504092 2024-001
    Material Weakness Repeat
  • 504093 2024-001
    Material Weakness Repeat
  • 504094 2024-002
    Significant Deficiency
  • 504095 2024-002
    Significant Deficiency
  • 504096 2024-002
    Significant Deficiency
  • 504097 2024-002
    Significant Deficiency
  • 504098 2024-002
    Significant Deficiency
  • 504099 2024-003
    Significant Deficiency
  • 504100 2024-003
    Significant Deficiency
  • 504101 2024-003
    Significant Deficiency
  • 504102 2024-003
    Significant Deficiency
  • 504103 2024-003
    Significant Deficiency
  • 1080534 2024-001
    Material Weakness Repeat
  • 1080535 2024-001
    Material Weakness Repeat
  • 1080536 2024-002
    Significant Deficiency
  • 1080537 2024-002
    Significant Deficiency
  • 1080538 2024-002
    Significant Deficiency
  • 1080539 2024-002
    Significant Deficiency
  • 1080540 2024-002
    Significant Deficiency
  • 1080542 2024-003
    Significant Deficiency
  • 1080543 2024-003
    Significant Deficiency
  • 1080544 2024-003
    Significant Deficiency
  • 1080545 2024-003
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $10.77M
84.063 Federal Pell Grant Program $2.08M
84.038 Federal Perkins Loan Program $1.07M
84.033 Federal Work-Study Program $291,054
84.007 Federal Supplemental Educational Opportunity Grants $159,200
84.200 Graduate Assistance in Areas of National Need (gaann) $116,588
81.049 Neutron Scattering Cross Sections $13,723
45.310 Grants to States $415