FAC Explorer

Finding 1165283 (2025-001)

Material Weakness Repeat Finding
Requirement
N
Questioned Costs
-
Year
2025
Accepted
2025-12-18
Audit: 375827
Organization: Mount Saint Mary's University (CA)
Auditor: BAKER TILLY US LLP

AI Summary

  • Core Issue: The University lacks a formal documented review process for calculating the return of Title IV funds after student withdrawals.
  • Impacted Requirements: Failure to comply with Title IV regulations may lead to incorrect refund amounts and potential financial penalties.
  • Recommended Follow-up: Implement a formal review process to ensure accurate and timely returns of Title IV funds, adhering to regulatory timelines.

Finding Text

Finding 2025-001: Significant Deficiency - Return of Title IV Funds Program: Student Financial Assistance Cluster Assistance Listing Number (ALN): Various Federal Agency: U.S. Department of Education Federal Award Identification Number: N/A Federal Award Year: June 30, 2025 Criteria: Title IV regulations (34 CFR 668.22) require the University to return the unearned portion of grants or loans to the Title IV program within 45 days after a student withdraws. Additionally, The U.S. Department of Education (ED) requires that an institution must ensure that its administrative procedures for the FSA programs include an adequate system of internal controls or checks and balances to ensure compliance with FSA laws and regulations including the return of Title IV funds. Condition/Context: The auditor noted that the University did not have evidence or documentation available to support the control/review process for return of Title IV calculations. Cause: The University did not have a formal documented review process for returns of Title IV calculations. Effect: The University could have incorrect return of Title IV calculations and return incorrect amounts to students and/or the ED. Questioned costs: Not applicable. Recommendation: The University should adhere to its procedures for refunding awards and implement a more formal documented review process/control to ensure refunds are calculated correctly and timely and any returns are made within the required timeframe. Management's Response: The University agrees with the finding. The University has begun formally documenting the weekly review of return of Title IV calculation.

Corrective Action Plan

Mount Saint Mary’s University Corrective Action Plan For the Year Ended June 30, 2025 Finding 2025-001 Condition: The University did not have evidence or documentation available to support the control/review process for return of Title IV calculations. Corrective Action Plan : The University will continue to review and adhere to our procedures for refunding awards, and the Financial Aid office will formally document the weekly review of the Return of Title IV funds. Name(s) of Contact Person(s) Responsible for Corrective Action: La Royce Housley, Director of Financial Aid Anticipated Completion Date: Immediately Joy E. Brathwaite, MBA MSA Vice President for Finance and Administration Dated: 12/4/2025

Categories

Student Financial Aid Significant Deficiency Matching / Level of Effort / Earmarking Internal Control / Segregation of Duties

Other Findings in this Audit

  • 1165279 2025-001
    Material Weakness Repeat
  • 1165280 2025-001
    Material Weakness Repeat
  • 1165281 2025-001
    Material Weakness Repeat
  • 1165282 2025-001
    Material Weakness Repeat
  • 1165284 2025-002
    Material Weakness Repeat
  • 1165285 2025-002
    Material Weakness Repeat
  • 1165286 2025-002
    Material Weakness Repeat
  • 1165287 2025-002
    Material Weakness Repeat
  • 1165288 2025-002
    Material Weakness Repeat
  • 1165289 2025-003
    Material Weakness Repeat
  • 1165290 2025-003
    Material Weakness Repeat
  • 1165291 2025-003
    Material Weakness Repeat
  • 1165292 2025-003
    Material Weakness Repeat
  • 1165293 2025-003
    Material Weakness Repeat

Programs in Audit

ALN Program Name Expenditures
84.268 FEDERAL DIRECT STUDENT LOANS $29.65M
84.063 FEDERAL PELL GRANT PROGRAM $7.09M
47.076 STEM EDUCATION (FORMERLY EDUCATION AND HUMAN RESOURCES) $649,967
84.033 FEDERAL WORK-STUDY PROGRAM $560,787
93.364 NURSING STUDENT LOANS $536,717
84.031 HIGHER EDUCATION INSTITUTIONAL AID $489,665
84.042 TRIO STUDENT SUPPORT SERVICES $346,573
84.325 SPECIAL EDUCATION - PERSONNEL DEVELOPMENT TO IMPROVE SERVICES AND RESULTS FOR CHILDREN WITH DISABILITIES $316,829
84.007 FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS $278,581
11.028 CONNECTING MINORITY COMMUNITIES PILOT PROGRAM $122,210
16.525 GRANTS TO REDUCE DOMESTIC VIOLENCE, DATING VIOLENCE, SEXUAL ASSAULT, AND STALKING ON CAMPUS $104,446
10.558 CHILD AND ADULT CARE FOOD PROGRAM $38,709
10.561 STATE ADMINISTRATIVE MATCHING GRANTS FOR THE SUPPLEMENTAL NUTRITION ASSISTANCE PROGRAM $30,172
19.009 ACADEMIC EXCHANGE PROGRAMS - UNDERGRADUATE PROGRAMS $28,602
93.242 MENTAL HEALTH RESEARCH GRANTS $24,751
93.575 CHILD CARE AND DEVELOPMENT BLOCK GRANT $24,487
11.417 SEA GRANT SUPPORT $18,780
45.162 PROMOTION OF THE HUMANITIES TEACHING AND LEARNING RESOURCES AND CURRICULUM DEVELOPMENT $9,048