Finding 1134621 (2024-002)

Significant Deficiency
Requirement
P
Questioned Costs
-
Year
2024
Accepted
2025-04-30

AI Summary

  • Core Issue: The School failed to request certain Title IV funds, mainly FSEOG disbursements, on time.
  • Impacted Requirements: Internal controls over compliance with federal program funding were not effectively maintained.
  • Recommended Follow-Up: Ensure adherence to updated policies for timely requests to the DOE for Title IV funds.

Finding Text

Criteria: The School must design, implement, and maintain effective internal controls over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the School's federal program. Condition: The School did not request disbursements of certain Title IV funds, the majority of which were Federal Supplemental Educational Opportunity Grant ("FSEOG") disbursements, in a timely manner. Cause: The School did not follow the procedures that are in place to ensure that certain Title IV funds that were applied to student accounts were requested and ultimately disbursed from the DOE in a timely manner. Effect: Twenty instances occurred in which student account statements and disbursement notifications indicated that Title IV funds were applied to the students account, however the Title IV funds were not drawn down from the DOE within the same fiscal year. Perspective Information: This issue was noted in twenty out of forty students selected for testing. Recommendations: We recommend that the School ensure policies and procedures are implemented and adhered to related to ensuring timely requests to the DOE for Title IV funds are made. Views of Responsible Officials and Planned Corrective Actions: The School has implemented policies and procedures to ensure timely requests to the DOE for Title IV funds are made. Please see attached corrective action plan.

Categories

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

Other Findings in this Audit

  • 558174 2024-001
    Significant Deficiency
  • 558175 2024-001
    Significant Deficiency
  • 558176 2024-001
    Significant Deficiency
  • 558177 2024-002
    Significant Deficiency
  • 558178 2024-002
    Significant Deficiency
  • 558179 2024-002
    Significant Deficiency
  • 1134616 2024-001
    Significant Deficiency
  • 1134617 2024-001
    Significant Deficiency
  • 1134618 2024-001
    Significant Deficiency
  • 1134619 2024-002
    Significant Deficiency
  • 1134620 2024-002
    Significant Deficiency

Programs in Audit

ALN Program Name Expenditures
84.268 Federal Direct Student Loans $5.52M
84.063 Federal Pell Grant Program $432,693
84.007 Federal Supplemental Educational Opportunity Grants $57,750