Finding Text
Federal Agency U.S. Department of Education
Federal Program Name Student Financial Assistance Cluster
Assistance Listing Number 84.063, 84.007, 84.033, 84.268
Federal Award Identification Number and Year P063P232037 - 2024, P007A233429 - 2024, P033A233429 - 2024, P268K242037 - 2024
Pass-Through Agency (if applicable) N/A
Pass-Through Number(s) (if applicable) N/A
Award Period 7/1/23 - 6/30/24
Compliance Requirement Affected Special Tests and Provisions
Type of Finding
Internal Control Significant Deficiency
Document judgment for your assessment The College used the incorrect withdraw date and incorrectly performed the Return of Title IV funds calculation
Compliance Not Material
Document judgment for your assessment Not greater than 5% and not a systemic failure.
Criteria or specific requirement "34 CFR 668.21(a) states that the institution must return all title IV, HEA program funds that were credited to the student's account at the institution or disbursed directly to the student for the payment period. The institution must return those funds no later than 30 days after the date that the institution becomes aware that the student will not or has not begun attendance.
Per 2 CFR 200.303, nonfederal entities receiving federal awards are required to establish and maintain internal controls designed to reasonably ensure compliance with federal laws, regulations, and program compliance requirements."
Condition "The College incorrectly calculated Return to Title IV (R2T4) calculations.
"
Questioned costs: N/A
Known Not over $25k
Likely See Question Cost Tab
Context During our testing of 40 R2T4 calculations, we identified that 5 had mechanically incorrect calculations by using the incorrect withdraw date.
Cause The College was using the incorrect withdraw date
Effect The College could return incorrect amounts based off of their calculations, which could effect student repayment amounts based off of amount earned.
Repeat Finding No
Recommendation We recommend that the College review policies and procedures related to R2T4 calculations to ensure calculations are performed correctly and timely.
Views of Responsible Officials Management agrees with this finding.