Finding 1094026 (2024-001)

-
Requirement
N
Questioned Costs
-
Year
2024
Accepted
2025-01-03
Audit: 335602
Organization: Thomas College (ME)
Auditor: Wipfli LLP

AI Summary

  • Core Issue: One out of nine student files lacked proper documentation for V4 verification, specifically missing annotations on the photo ID.
  • Impacted Requirements: The College must keep an annotated copy of valid photo IDs, including the date received and the name of the reviewing official.
  • Recommended Follow-Up: Improve oversight of the verification process to ensure compliance with procedures and accurate documentation.

Finding Text

Finding 2024-001: Repeat Finding: No Major Programs: Student Financial Aid Cluster Federal Agency: Department of Education Award Year: July 1, 2023 to June 30, 2024 Compliance Requirement: Special Tests – Verification Type of Finding: Other matters Questioned Costs: None Criteria: The College must maintain an annotated copy of the valid, unexpired, government-issued photo identification (ID) that includes the date it was received and the name of the College’s authorized to receive it. Condition and Context: The examination disclosed 1 student out of 9 files tested, in which the V4 verification was performed inaccurately. The College did not annotate the photo ID provided by the student with the date it was received and reviewed, and the name of the official at the institution authorized to received and review the student’s ID. Effect: The institution did not follow their stated procedures, and the auditor could not verify if the student appeared in person before the certifying FA official for V4 verification. Possible Cause: An oversight was made by the institution. Recommendation: The institution should implement better oversight over the verification process and ensure it is performed accurately and that all stated procedures are followed. View of responsible officials: The College agrees with the finding and are committed to a corrective action.

Categories

Internal Control / Segregation of Duties Special Tests & Provisions

Other Findings in this Audit

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $5.05M
84.063 Federal Pell Grant Program $1.52M
21.027 Coronavirus State and Local Fiscal Recovery Funds $1.23M
84.116 Fund for the Improvement of Postsecondary Education $301,656
84.031 Higher Education_institutional Aid $263,996
84.007 Federal Supplemental Educational Opportunity Grants $248,573
84.042 Trio_student Support Services $229,573
84.033 Federal Work-Study Program $149,198
84.038 Federal Perkins Loan $35,430