Finding Text
2024-002 Special Tests and Provisions
Federal agency: U.S Department of Education
Federal program title: Student Financial Assistance Cluster
Assistant Listing Number: 84.007/84.033/84.063/84.268
Federal Award Identification Number: P007A233410, P033A233410, P063P232032, P268K24032
Award Period: July 1, 2023 to June 30, 2024
Type of Finding:
Compliance, Other Matters
Significant Deficiency in Internal Control over Compliance
Criteria or specific requirement: Per 34 CFR 668.22(j)(1) an institution must return the amount of title IV funds for which it is
responsible as soon as possible but no later than 45 days after the date of the institution's determination that the student withdrew.
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 used the incorrect withdrawal date when calculating Return to Title IV (R2T4) calculation and returned funds
late.
Context: During our testing, we identified 3 out of 40 R2T4 calculations used an incorrect withdrawal date in their calculation. Also, 2 out
of 40 of the R2T4 selections had funds that were not returned timely (after 45 days).
Questioned costs: None.
Cause: The College input the incorrect dates when completing R2T4 calculations.
Effect: The College could return incorrect amounts based off of their calculations, which could affect 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 accurately and federal funds are returned timely.
Views of responsible officials: Management agrees with the finding.